Antonio Filosa, new boss of a struggling Stellantis, imposes his style

He wanted to turn the page on Tavares abruptly, like ripping off a bandage. Antonio Filosa, 52, appointed on May 28 to head Stellantis , the group born from the merger of PSA and Fiat Chrysler, presented his first financial results on Tuesday, July 29. He was by videoconference from Amsterdam, where the manufacturer has had its headquarters since 2001. The former head of the Americas and quality at Stellantis, who runs the Franco-Italian-American company from Detroit, flew to the Netherlands by private jet before heading to Asia. Use of the company's aircraft and close protection are part of his contract, in addition to an annual salary that could reach $23 million (€19.7 million) in 2028 if he meets all the objectives set for him, according to the document presented to shareholders and calculations by Agence France-Presse.

“My first weeks as CEO have reinforced my deep conviction that we will fix what is wrong with Stellantis by capitalizing on everything that is right with Stellantis,” said the Italian-Brazilian boss, for whom "2025 is proving to be a difficult year, but also a year of gradual improvement." What is not going well is obvious: vehicle sales fell by 7% to 2.7 million registrations, and turnover plunged by 13% to 74.3 billion euros. The operating margin is just positive at 0.7%, whereas it was still at 10% in the first half of 2024.

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