Latest news with #469
TimesLIVE
28-05-2025
- Automotive
- TimesLIVE
Stellantis names Antonio Filosa as its new CEO
Franco-Italian-US carmaker Stellantis on Wednesday named Antonio Filosa, the Italian head of its North American operations, as its new CEO, effective from June 23. Filosa, 51, will be expected to focus on the challenging task of reviving Stellantis' fortunes, specially in its key US market, after it suffered a 70% drop in net profit and a €6bn (R137,469,892,500) cash burn in 2024. "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", Stellantis said. Filosa will also need to rein in Stellantis sprawling 14-brand portfolio - with analysts and experts thinking the carmaker should terminate or sell some of them - and complete a process to restore the group's fraught relations with dealers, unions and governments. He succeeds Carlos Tavares, who quit the group in December after sharp drops in profits and sales raised questions about his management. Since then, the carmaker has been provisionally led by its chair John Elkann, a scion of the Agnelli family that founded Fiat, now part of Stellantis. The Agnellis are Stellantis' single largest investor through their family holding company Exor. The group's other brands include Peugeot and Jeep. Having exceeded €27 (R549) early last year, Stellantis's Milan-listed shares shed more than two thirds of their value in the next 12 months. Stellantis was created in early 2021 through the merger of Fiat Chrysler and Peugeot's owner PSA, with Tavares, the former PSA head, as its first CEO. Filosa has been leading Stellantis in North America since October. In 2023 he was also appointed global head of Jeep, one of Stellantis key brands, a role he quit this year when, as part of a wider management reshuffle, he was also given the additional role of Stellantis global chief for quality. An Italian national, Filosa was born in the southern city of Naples, spent his youth in the region of Puglia in the south, and graduated in engineering from Milan's Polytechnic. Married to a Brazilian architect, he is the father of two sons and has a passion for water polo. He joined Fiat Group in 1999, where he covered several roles, predominantly in Latin America, becoming Fiat Chrysler chief in the region in 2018. He then served as Stellantis COO for South America. Despite his Fiat background and Italian nationality, he has hardly ever worked in Italy and can offer the global profile the Stellantis board had been looking for to address issues at the multinational carmaker. His recent years as head of Stellantis' North American business can also prove an asset in dealing with US President Donald Trump's administration and respond to its tariff policies.
TimesLIVE
28-05-2025
- Automotive
- TimesLIVE
Stellantis names Antonio Filosa as its new CEO: source
Carmaker Stellantis has appointed Italian Antonio Filosa as its new CEO, a source close to the matter said on Wednesday. He succeeds Carlos Tavares, who quit the group in December after a sharp drop in profits and sales, specially in the US, raised questions about his management. Since then, the Franco-Italian-US carmaker has been provisionally led by its chair John Elkann, a scion of the Agnelli family that founded Fiat, now part of Stellantis. The Agnellis are Stellantis' single largest investor through their family holding company Exor. The group's other brands include Peugeot and Jeep. Filosa is expected to focus on the challenging task to revive fortunes after the carmaker suffered a 70% drop in net profit and a €6bn (R137,469,892,500) cash burn in 2024. Having exceeded €27 (R549) early last year, Stellantis shares shed more than two thirds of their value in the next 12 months. The new boss will also need to rein in Stellantis sprawling 14-brand portfolio, with analysts and experts thinking the carmaker should terminate or sell some of them, and complete a process to restore the group's fraught relations with dealers, unions and governments left by Tavares. Stellantis was created in early 2021 through the merger of Fiat Chrysler and Peugeot's owner PSA, with Tavares, the former PSA head, as its first CEO. Filosa, aged 51, has been leading Stellantis in its key North American market since October with a task of reviving sales at the group's powerhouse, after its market share shrank in recent years.
Yahoo
20-03-2025
- Sport
- Yahoo
NC lawmaker files bill aimed at maintaining local collegiate sports rivalries
Image: Adobe Stock The third month of the year brings plenty of excitement with March Madness, the annual tournament for men's and women's basketball at the collegiate level. It's especially true in North Carolina, a state known for its college basketball popularity and talent — Durham's Duke University is a favorite to win the men's championship this year. With that in mind, Rep. Brenden Jones (R-Columbus, Robeson) introduced House Bill 469 — the Restoring Rivalries Act — on Thursday, a bill that would require the University of North Carolina at Chapel Hill and North Carolina State University in Raleigh to face off in football, men's and women's basketball, baseball, and softball every year. 'Our collegiate rivalries are part of our state's DNA, and this bill ensures it stays that way!' Jones shared on social media. If passed, the measure would go into effect for the 2026-2027 academic year. The bill notes that regular competition among North Carolina's major collegiate athletic programs generates substantial revenue and tourism, in addition to reinforcing the 'long-standing traditions that define the State's athletic legacy.' Each year, rivalry games between local teams like UNC, NC State and Duke are some of the most high-profile in the season. 'College athletics have long played a fundamental role in the culture and economy of North Carolina, fostering school spirit, community engagement, and regional pride,' the bill reads. The legislation divides the eligible sports into 'high-game count sport' and 'low-game count sport,' with the former referring to baseball and softball, and the latter meaning football and men's and women's basketball. For low-game count sports, the schools would need to play at least one home game or one away game against the other each academic year. On the other hand, for baseball and softball, UNC and NC State would play a series of at least three home games or three away games against each other. The legislation comes at a time of rapid transition in college sports as the advent of NIL (name, image and likeness) dollars have transformed many college athletes into highly paid professionals. Meanwhile, expansion and consolidation have ruptured and /or reshaped many traditional leagues like the Atlantic Coast Conference and left many schools — including UNC and NC State — warily eyeing the threat of being left behind in future conference realignments.
