During the conference call with analysts to present Stellantis’ 2024 results, Chairman John Elkann discussed Carlos Tavares’ successor, confirming that the new CEO will be announced by mid-year. Elkann stated: “The selection of the new CEO is underway and progressing well: we have highly valuable candidates both internally and externally, and we are having promising conversations that will allow us to choose the best possible CEO.”
Elkann, recalling “the important contribution Carlos Tavares has made in creating the company,” confirmed that the appointment will be announced “within the first half of the year.” Although he avoided directly answering numerous questions about who will succeed Tavares, he outlined a fairly precise profile of the person he wants to lead the company.
Many candidates for the Stellantis CEO position: John Elkann confirms a decision will be made soon
“The search we are conducting, through the committee, is both internal and external,” reiterated John Elkann, emphasizing that the new CEO must possess “strong leadership capability and great cultural dexterity” to manage an organization with such diverse roots as Stellantis. “But we will also need a leader,” he added, “who has deep knowledge in the areas of capital and technology, and who knows how to work synergistically with all stakeholders.”
John Elkann highlighted a series of challenges that are becoming increasingly complex. Three, in particular, he deemed crucial. The first concerns regulations, which are becoming “increasingly divergent and rigid,” although, as he added, “the discussion with Brussels is still open regarding 2035.” The second concerns growing competition, especially from China, a market that, according to the Stellantis chairman, has seen significant progress. “When we founded the company in 2021, we had no market in China, but now we are satisfied with the results achieved with Leapmotor, both domestically and abroad, and we expect further growth in 2025.”
The third point concerns tariffs. John Elkann expressed his support for Trump’s plan to increase automobile production in the United States, stating that Stellantis is engaging in “constructive conversations” and believes that the problem of vehicles sold annually in the United States without any American content must be resolved. However, he emphasized that “Canada and Mexico must remain exempt from tariffs.”
Regarding product forecasts, important news emerged. Stellantis aims to regain market share in both North America and Europe. As highlighted by Doug Ostermann, the company’s Chief Financial Officer, January’s results are encouraging, but the tangible effects of new models will likely be seen primarily in the second half of the year.