Antonio Filosa named new Stellantis CEO as tariff fears rumble on

Euronews

28-05-2025

Stellantis on Monday named North American chief operating officer Antonio Filosa as the company's new CEO.
Filosa, who is 51, will assume his new powers on 23 June, although a shareholder meeting is required to formally appoint him. Stellantis said that this meeting would be 'called in the coming days'.
As President Donald Trump's tariff policies continue to threaten multinational carmakers, the Italian COO is tasked with turning Stellantis' fortunes around in the face of market headwinds.
'The Board selected Antonio Filosa to be CEO based on his proven track record of hands-on success during his more than 25 years in the automotive industry, the depth and span of his experience around the world, his unrivalled knowledge of the Company and his recognised leadership qualities,' Stellantis said on Monday.
Filosa's predecessor, Carlos Tavares, resigned suddenly in December 2024 after Stellantis issued a profit warning in September.
Sales in North America were particularly lacklustre, leaving dealers with a backlog of unsold vehicles. Tavares also clashed with Stellantis' board over his electrification strategy. The CEO was keen to push for 100% battery electric vehicle (BEV) sales in Europe by 2030, while the board wanted to slow the pace of the transformation.
In the wake of Tavares' departure, Filosa was promoted to lead Stellantis' North America operations.
Having fought off external and internal candidates, the Naples-born COO will now take charge of Stellantis' 14 brands, including Peugeot, Fiat, Chrysler, Citroën and Jeep.
The challenges reflect broader ones faced by a Chinese economy hobbled by a prolonged real estate crisis that has hurt consumer spending. Beijing also faces growing pushback from Europe and the United States over surging exports.
'The picture has deteriorated across many key metrics,' the European Union Chamber of Commerce in China said in the introduction to its Business Confidence Survey 2025.
The same forces that are driving up Chinese exports are depressing the business outlook in the Chinese market. Chinese companies, often enticed by government subsidies, have invested so much in targeted industries such as electric vehicles that factory capacity far outpaces demand.
The overcapacity has resulted in fierce price wars that cut into profits and a parallel push by companies into overseas markets.
In Europe, that has created fears that growing imports from China could undermine its own factories and the workers they employ. The EU slapped tariffs on Chinese EVs last year, saying China had unfairly subsidised electric vehicle production.
'I think there's a clear perception that the benefits of the bilateral trade and investment relationship are not being distributed in an equitable manner,' Jens Eskelund, the president of the EU Chamber in China, told reporters earlier this week.
He applauded efforts by China to boost consumer spending but said the government must also take steps to ensure that supply growth doesn't outpace that in demand.
The survey results show that the downward pressure on profits increased over the past year and that a fall in business confidence has yet to bottom out, Eskelund said. About 500 member companies responded to the survey between mid-January to mid-February.
'It is just very difficult for everyone right now in an environment of declining margins,' he said.