Stellantis announced on Wednesday that it has appointed former Jeep chief executive and chief operating officer of the South American region Antonio Filosa as its new CEO.
Filosa’s new role is planned to begin on June 23 with the new chief announcing the new leadership team by then.
The executive has held key leadership roles at Stellantis, the group behind Jeep, Fiat, Vauxhall and Peugeot, across both South and North America.
He became COO for Stellantis South America in early 2021 and held that position for nearly three years. In November 2023, he was appointed CEO of the Jeep brand.
While leading Jeep, Filosa accumulated the role of COO for Stellantis North America in late 2024.
In February, he was promoted to Chief Quality Officer for Stellantis, while still overseeing operations in the Americas.
In a statement, Stellantis cited Filosa’s “proven track record of hands-on success during his more than 25 years in the automotive industry, the depth and span of his experience around the world, his unrivalled knowledge of the Company and his recognized leadership qualities.”
Executive Chairman John Elkann will remain in his position as Filosa assumes the role of CEO. Elkann led an executive committee overseeing company operations since former CEO Carlos Tavares resigned in late 2024.
Tavares faced mounting pressure over the last few years. Stellantis issued last September an annual profit warning, amid waker sales and excessive inventory levels in the North American market.
By then, the company projected a cash burn of up to $11.4 billion. Earlier this year, Stellantis reported its 2024 earnings results, revealing a 70% drop in net profits to $5.76 billion, and a 64% decline in adjusted operating income.
Over the last twelve months, Stellantis‘ US-listed shares plunged nearly 52%.
A special committee of the board was appointed to lead the selection process for a new CEO, as the company expected to appoint a new chief executive in the first half of 2025.
Tavares had originally planned to retire at the end of his term in early 2026. He led Stellantis Group since its formation in early 2021, following the merger of Fiat Chrysler Automobiles and PSA Group, the parent company of Peugeot.
