Auto Giant Stellarantis, who named the company’s veteran Antonio Philosa as new chief executive officer, on Wednesday, as brands such as Jeep, Peugeot and Fiat are blocking US tariffs and sales in North America.
The Italian manager who led Stellantis in North and South America will replace Carlos Tavares, who suddenly quit in December.
Filosa was unanimously selected by the board following a “comprehensive search process for internal and external candidates,” Stellantis said in a statement.
Stellantis said that in the coming days, he will call an extraordinary shareholders meeting to elect Filosa to the board of directors and serve as the company’s executive director.
“On the other hand, to give him full authority and ensure an efficient transition, the board gave him CEO powers on June 23,” the statement said.
“The board chose Antonio Firosa to become CEO based on his track record of practical success in the automotive industry over more than 25 years,” Stellantis said.
The company also praised “the depth and scope of his experience worldwide, his unparalleled knowledge of the company, and his recognized leadership qualities.”
Tavares: Good times, bad times
Includes other brands such as Ram Truck, Dodge, Chrysler and Maserati, Stellantis is struggling to lower sales in major North American markets.
President Donald Trump’s 25% tariff on the automotive industry added to the company’s disaster.
Last month, Stellantis removed its annual financial guidance due to uncertainty about taxation.
Firosa, formerly the CEO of the Jeep brand, was promoted to the role of Chief Operating Officer for the Americas in December.
“Since his appointment, he has begun to strengthen his US operations,” Stellantis said, saying he “significantly” reduced excess inventory at dealers and reorganized his leadership team.
Tavares designed one of the most ambitious mergers in automotive history in 2021 when more than 12 brands, including Jeep, Fiat, Chrysler, Peugeot and Citroen, were placed under the same roof.
The Portuguese executive who then led the French group Peugeot-Citroen was appointed chief executive of the newly created French-American giant Stellantis.
His three-year tenure was marked by a high profit margin of his rivals in the automotive industry, but the good times are over as sales plummeted in the US last year.
This story was originally featured on Fortune.com.
