Stellantis shares drop after leadership shake-up
By Benjamin Chiou
Date: Monday 03 Feb 2025
(Sharecast News) - Stellantis's plans to simplify the organisation fell flat on Monday with shares in the Italian-American auto giant dropping sharply following a number of leadership changes in the aftermath of its CEO's departure in December.
The company, whose brands include Fiat, Chrysler, Dodge, Keep and Alfa Romeo, said that shake-up allows for the "right balance between regional and global responsibilities to enable speed of decision and execution".
"The measures [...] further reinforce Stellantis' commitment to listening to the voice of the customer and lay the ground for renewed growth."
Certain organisational adjustments, which include appointing new heads of Jeep, Peugeot, DS Automobiles and the Stellantic Pro One commercial vehicles unit, should improve local decision-making in respect of product planning, product development, industrial and commercial activities.
The changes were first earmarked in December following the exit of Carlos Tavares as chief executive, though the search for a replacement is still ongoing and should be concluded sometime within the first half of 2025.
Commenting on the changes, Stellantis chair John Elkann said: "Building on the changes made in December, today's announcements will further simplify our organization and increase our local agility and rigor of execution. We look forward to driving growth by providing our customers with an even larger choice of great combustion, hybrid and electric vehicles."
Shares were down 6.2% at €12.16 by 1242 in Milan, while US-listed stock futures were 5.1% lower at $13.13 in pre-market trade on Wall Street.
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