Stellantis Moves Closer to New Leadership as Antonio Filosa Emerges as Front-Runner

Stellantis NV is on the verge of finalizing its search for a new CEO.Antonio Filosa, currently leading operations in the Americas, appears to be the frontrunner according to insiders who prefer to remain anonymous due to the sensitive nature of discussions.

The board led by Chairman John Elkann has yet to make an official declaration. While Filosa seems like a strong candidate, there’s still potential for other choices as deliberations continue.

After Carlos Tavares was dismissed last December, Stellantis assured investors that they would appoint a new leader within six months. Now five months in, there’s growing anxiety about the lack of direction without a permanent head at the helm.

A spokesperson confirmed that no decision has been reached yet and that plans for announcing a new CEO remain unchanged. Filosa did not respond when asked for his thoughts on this matter.

Tariff Troubles and Market Pressures

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A native of Naples who began his career with Fiat back in ’99, Filosa joined Fiat Chrysler’s executive team in 2018 and became part of Stellantis’ leadership when it formed in 2021. He stepped into his current role overseeing North American operations during Tavares’ final days as CEO.

The market dynamics have shifted dramatically; Stellantis once boasted a market cap exceeding $93 billion but now hovers around $28 billion due to declining sales and conflicts with various stakeholders including politicians and unions.

The board is also weighing external candidates like José Muñoz from Hyundai Motor Co., who took over as CEO earlier this year; Mike Manley from AutoNation Inc., who previously led Fiat Chrysler until its merger with PSA Group three years ago; both are seasoned leaders capable of steering Stellantis through turbulent waters.

A spokesperson for Muñoz declined comment while Manley’s team didn’t respond instantly either.

navigating Sales Challenges

A top priority will be reversing declining sales in the U.S., which fell by 15% last year alone—an alarming trend compounded by tariffs introduced under former President Trump that have increased costs considerably.

The European market isn’t faring much better either; competition from Chinese manufacturers like BYD Co., known for thier affordable electric vehicles (EVs), poses additional challenges amid stagnant industry-wide sales.In February, Stellantis cautioned about ongoing profitability issues this year with expectations set at mid-single-digit operating income margins—a stark contrast from earlier projections suggesting double-digit returns were possible.

Recently suspended guidance reflects uncertainties tied to tariffs impacting their operational strategies.

Filosa has been proactive since taking charge—visiting plants across America and engaging dealers directly—to mend relationships strained during Tavares’ leadership era. Similarly,Elkann reassured key stakeholders such as French President Emmanuel Macron regarding future prospects late last year.

This report includes contributions from Albertina Torsoli, Gabrielle Coppola & Daniele Lepido.