Written by Cláudio Afonso | LinkedIn | X
Geely-backed EV manufacturer Polestar said Tuesday it is replacing its Chief Financial Officer (CFO) Per Ansgar with the former Stellantis executive Jean-Francois Mady from October 21.
Polestar shares traded 6 per cent higher on Tuesday’s pre-market session at $1.29 per share.
The replacement follows the departure of the CEO Thomas Ingenlath last week after weaker than expected performance from the Swedish-headquartered company even after the revamped version of its first fully electric model, the Polestar 2.
Additionally, Maximilian Missoni has also left the company last month after being a key member of Ingenlath’s leadership team over the first seven years of Polestar’s existence.
Jean-Francois joins from the Stellantis Group, where he was serving as Senior Vice President of Global Accounting Operations and Finance Transformation. Ansgar, who took the leading role at the last earnings conference call held last week, had joined the electric vehicle maker in January 2024.
Polestar’s incoming Chairman, Winfried Vahland, said last week Geely “remains deeply committed to Polestar’s success” adding the company is “well-positioned for continued innovation and growth.”
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The company stated Tuesday that Ansgar will remain within the Geely Group and return to his role as CFO of Geely Sweden Holding AB.
When questioned about the demand for both new models, the Polestar 3 and 4, Ansgar said the latest will be delivered only later this year while the brand’s first fully electric model, the Polestar 2, will take “a smaller portion of our sales going forward”.
Regarding the Polestar 3 model has “a large order book” with customers from Europe and the U.S placing pre-orders on the coming vehicle.
Written by Cláudio Afonso | LinkedIn | X
