New Stellantis CEO Filosa Faces Sales, Industry Pressures

Antonio Filosa officially assumed his role as CEO of Stellantis on June 23, stepping into leadership during a period marked by declining sales, internal tensions, and broader industry uncertainty. His appointment follows the abrupt resignation of Carlos Tavares in December after years of underperformance and mounting dissatisfaction within the company.

Filosa, 51, faces immediate pressure to reverse a 12.3% drop in global sales since 2021 and a 70% plunge in net profit in 2024. A 25-year company veteran, Filosa previously led Stellantis’ Americas operations, served as CEO of Jeep, and acted as COO for the Americas.

In his first remarks, Filosa echoed his mentor, the late Fiat Chrysler CEO Sergio Marchionne, saying, “Mediocrity is not worth the trip.” He highlighted the complexities of balancing internal combustion engine vehicles with electrified models, suggesting earlier this year that “the pace and speed [of the EV transition] probably need to be slightly reassessed.”

One of Filosa’s major challenges is mending fractured relationships with dealers and employees. Under Tavares, the Stellantis National Dealer Council publicly criticized the company’s treatment of its dealer network. Rebuilding trust is critical as Stellantis works to regain its retail market share in the U.S., which fell from 11.6% in 2021 to 8% in 2024. Vehicle sales during that period declined 27% to 1.3 million units.

Stellantis’ revenue dropped 17.2% year-over-year in 2024 to €156.9 billion, contrasting with growth reported by competitors such as General Motors and Ford. The company aims to reverse this trend with upcoming launches, including a redesigned Jeep Cherokee, updated Ram 1500 models, and a new gas-powered Dodge Charger.

Investor confidence remains tepid. Stellantis shares fell 3.2% on the day of Filosa’s appointment and are down approximately 10% since, though analysts partly attribute the decline to broader economic factors. UBS analyst Patrick Hummel noted Filosa’s limited interaction with investors so far.

According to RBC Capital Markets, Filosa’s immediate priorities include revitalizing the U.S. market, streamlining Stellantis’ extensive 14-brand portfolio, and addressing strained relationships with dealers, unions, and governments.

Filosa has signaled his commitment to operational engagement, visiting plants in the United States, Canada, and Europe since his appointment. In a May 28 LinkedIn post, he expressed gratitude for his new role: “I am truly honored to be appointed CEO of this great company, Stellantis. It has been my home for 25 years. This place is in my blood.”