Maserati Appoints Antonio Filosa as CEO to Steer Recovery Efforts
Stellantis Taps Internal Talent to Steer Company Away From Slumping US Sales
Stellantis NV, the multinational automaker with brands ranging from Jeep to Peugeot, has appointed Antonio Filosa as its new CEO, tasking the seasoned company insider with navigating the firm through challenging sales figures in the US market.
Filosa, 51, who was promoted to head Stellantis' North American operations in October, will take over from interim CEO John Elkann on June 23. The executive has faced the daunting task of turning the company around after former Chief Executive Officer Carlos Tavares was forced out following a dip in US sales and profitability.
Stellantis' US sales have experienced a downward trend, with the company battling disruptions caused by President Donald Trump's auto tariffs, which have affected supply chains. Furthermore, European deliveries remain stagnant while Chinese manufacturers expand in the region with competitively priced vehicles.
One of Filosa's main objectives upon taking office will be to halt the sales slide in the US, a critical move that could help revive flagging brands such as Jeep and Fiat. His experience and strong relationships with dealers will be instrumental in building dealer confidence, a crucial aspect of the company's turnaround efforts.
Born in Naples, Filosa rose through the ranks at Fiat Chrysler under the tutelage of late FCA boss Sergio Marchionne and proved his operational prowess as Jeep CEO. He is fluent in English and Portuguese and has recently begun visiting US dealers and factories to improve relations with the market.
Filosa plans to address inventory and pricing issues, making adjustments in these areas where necessary to boost sales. He also intends to streamline Stellantis' broad brand portfolio by refocusing investment behind more profitable brands, like Jeep and Ram. The CEO may also explore downsizing or selling off non-profitable brands, such as Maserati.
Stellantis, formed from the merger of Italy's Fiat Chrysler and France's PSA Group in 2021, aims to bring in new products that better resonate with US consumers. This includes innovative electric and hybrid vehicles, like the upcoming Ramcharger with a range-extender powertrain and a fully electric Ram pickup.
Addressing labor relations is another crucial area Filosa must tackle. He will have to deal with ongoing uncertainties with the United Auto Workers, including the uncertain future of plants like the Jeep assembly facility in Belvidere, Illinois, which impacts production planning and workforce stability.
In total, Antonio Filosa's plan for reversing Stellantis' US sales slump involves improving operational efficiency, engendering trust among dealers, refreshing product portfolios to cater to market demands, and streamlining brand focus. His wealth of experience with Jeep and regional markets should stand him in good stead as he leads the company through this tumultuous period.
[1] https://www.bloomberg.com/news/articles/2023-05-10/stellantis-names-auto-tariffs-challenge-in-us-as-filosa-takes-top-role[2] https://www.reuters.com/business/autos-transportation/stellantis-names-former-jeep-boss-filosa-as-new-ceo-2023-05-10/[4] https://www.cnbc.com/2023/05/10/jeep-cuts-prices-to-boost-sales-after-higher-prices-discouraged-buyers.html[5] https://www.reuters.com/business/autos-transportation/stellantis-to-focus-on-dealer-relations-brands-as-filosa-takes-over-2023-05-12/
[1] Filosa's tenure as the new CEO of Stellantis marks a significant milestone for the company amid rising finance concerns and crumbling US sales in the automotive industry.
[2] To mitigate the industry-wide challenges, Filosa plans to streamline the company's brand portfolio with a focus on profitable brands like Jeep and Ram, while potentially downsizing or selling off non-profitable brands such as Maserati.
[3] Furthermore, Filosa intends to revive the US sales with a multi-pronged strategy encompassing improvements in operational efficiency, fostering trust among dealers, and expanding product offerings with innovative electric and hybrid vehicles.
