Stellantis Appoints New CEO: Dealers Hope New CEO Ends Sales Slump

Stellantis Appoints New CEO: Can Filosa Fix Plunging U.S. Sales?

Dealers of Jeep SUVs and Ram pickup trucks in the United States are counting on Antonio Filosa, the recently appointed CEO of Stellantis, to reverse months of poor sales and eroding confidence. Stellantis’ hunt for a new leader was influenced by the company’s declining market share in the US.

On Wednesday, the 51-year-old Italian national was appointed to lead the multinational manufacturer. Since Carlos Tavares abruptly resigned as CEO in December, he has been the chief operating officer of the Americas, giving him plenty of face time with U.S. dealers.

He knows what he’s doing. He has a manufacturing and quality background, which is important to us,

former Stellantis National Dealer Council Chairman Kevin Farrish

Stellantis Faces Backlash: Dealers, Unions, and Investors Turn on Former CEO Tavares

In September, Farrish was the most prominent signatory to a letter criticizing Tavares for a pricing policy that, according to retailers, caused a sharp drop in sales. Many auto dealers, suppliers, and unions were offended by Tavares’s quest for cost reductions. The United Auto Workers union accused the corporation of unfair labor practices, and stockholders filed lawsuits against it.

Stellantis Struggles to Rebound as North American Sales Plunge 25%

Since then, Stellantis has been trying to mend these relationships and increase the value of the company’s shares and sales in North America. Longtime executives like Ram Chief Tim Kuniskis were invited back to oversee its brands. Filosa is scheduled to address the Stellantis dealer council on Wednesday after visiting with dealers across the nation.

Tavares’ departure has resulted in a delayed turnaround. Globally, first-quarter net revenues dropped 14% year over year, while in North America, they decreased 25%. Additionally, shipments in the area lagged.

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