Stellantis has reportedly narrowed the pool of potential successors to Carlos Tavares to only five highly qualified candidates.
Stellantis CEO search narrowed to five names
Stellantis is speeding up the process of selecting its next CEO, narrowing the field to a shortlist of five high-profile candidates. The announcement, as anticipated by John Elkann, is imminent, expected by June. Stellantis strategy seems to balance continuity and innovation by including two proven internal figures on the short list: Antonio Filosa, current CEO of Jeep, and Maxime Picat, head of Purchasing and Suppliers. Rounding out the five, three external candidates whose specific backgrounds are not yet public. All finalists in the running for the group’s leadership are men.
The appointment of Stellantis’ next CEO comes at a critical time, given the presence of several qualified candidates from both inside and outside the group. The chosen person will be responsible for leading the company during a particularly difficult and dynamic period for the automotive industry in recent decades. In a landscape marked by profound technological changes, the need for a sustainable energy transition, and worldwide economic instabilities, the future leader of Stellantis will have to face unprecedented issues, supported by a clear and well-defined strategic vision. His main tasks will include not only ensuring business continuity and stimulating technological advancement, but also restoring and strengthening a solid climate of trust among employees, with industrial collaborators, among shareholders and in the general public.
Stellantis: top race tightens, Griffiths as top profile
The wait to know the future leader of Stellantis is getting more intense. According to rumors, as I mentioned earlier, the shortlist of candidates for the CEO role would be narrowed down to only five names. Although the identity of three outside figures remains shrouded in mystery, one rumor has raised a prominent profile: former Seat CEO Wayne Griffiths, whose involvement in negotiations with John Elkann would appear to be at an advanced stage.
Despite the confidentiality surrounding the selection process, both Stellantis Chairman John Elkann and Peugeot Invest CEO Jean-Charles Douin reassure of its smooth progression. The goal remains clear: to announce the new CEO within the first half of this year.
The appointment is of crucial importance for the future of Stellantis. The automotive group faces significant challenges, including strategic definition in the electric vehicle sector, persistent difficulties related to the global supply chain, and growing investor uncertainty. A tangible sign of this situation is the recent drop in the share price to a record low of 7.51 euros, a stark contrast to the peak of 25 euros reached only a year ago. The choice of a new CEO will be crucial in addressing these challenges and redefining the course of Stellantis.
And while the question of who will replace the top job at Stellantis is being looked into, during the Stellantis shareholders’ meeting, the budget was approved containing, among other items, former CEO Carlos Tavares’ 2024 compensation of 23.1 million euros (about 26.24 million U.S. dollars) in addition to a severance package of 12 million, or about 13.63 million U.S. dollars. The go-ahead came with 66.92 percent voting in favor, while 33.08 percent opposed. Some investors had criticized the pay package, considering the company’s sharp decline in profits, which fell 70 percent.
