Many recent changes, especially at the top levels, and particularly in North America, for Stellantis. Analyzing the situation for the automotive group in its North American headquarters, the current trend might not be too comforting, and it would be wise to prepare for the worst-case scenario. Starting from the dealerships, which are increasingly worried about the numerous Stellantis executives leaving the company, an entire management group in North America is struggling. It’s not unreasonable to think that Stellantis North America has a problem at the high levels of responsibility within the group, given the significant number of executives who are resigning.
Stellantis: in North America, dozens of executive resignations cause concern
Jeep Wrangler sales are rapidly declining, while the new Dodge Hornet is among the least sold cars in the U.S., along with the market debutant Fiat 500e. This is likely due to the “overly focused” attention on fully electric options, specifically the new Jeep Wagoneer S and the Dodge Charger Daytona.
Stellantis has made significant changes in branding. Dodge no longer seems associated with power as it once was, and the Jeep Wrangler is practically transforming into a luxury vehicle. The Jeep Gladiator is priced too high to compete in its segment, and the Fiat 500e hasn’t had a good start.
Mamatha Chamarthi, head of Stellantis’ software division, is the fifth high-level executive to leave the company in the last two months. Chamarthi had taken on this role just a few years ago, in 2019, and is now looking for other opportunities. Jasce Stoicevich, who had joined Stellantis as vice president of retail sales in North America in May, left after only two months. Richard Schwarzwald, Chief Customer Experience Officer, also recently resigned after joining the executive team in 2021.
The peculiar case is that of Jim Morrison, head of Jeep North America from 2019 to 2023, who decided to retire. An “escape” that remains even more surprising, considering he is a young and enthusiastic professional according to American industry magazines. Tim Kuniskis, CEO of Dodge and Ram, retired on June 1, 2024, just as Dodge was beginning to transform into an electric brand.
Despite everything that has just been narrated about Stellantis’ affairs, North America recorded a profit margin of 15.4% in 2023, compared to 16.4% in 2022. The company made $86.5 billion in 2023, with the North American sector contributing 45.6% of the total profit. We are not looking at a bankrupt group, obviously. However, there seems to be an objective difficulty in retaining talent, with sales that are, nevertheless, feeling the effects, for a market that is very important.