Stellantis to appoint new CEO by mid-2025

Stellantis, the automaker behind brands like Fiat, Jeep, and Peugeot, plans to appoint a new CEO in the first half of this year. This announcement was made by Chairman John Elkann during a session at the Italian parliament. The company is looking for a successor to Carlos Tavares, who left his position last December. Elkann also shared that Stellantis will invest €2 billion (around $2.2 billion) in Italy to boost production. Recently, Stellantis presented a positive plan to the Italian government to increase output. This comes after struggling with low production levels due to weak demand, especially for electric vehicles, high prices, and competition from Chinese automakers. In 2023, Stellantis produced fewer than 500,000 vehicles in Italy, a significant drop from 751,000 the previous year. Car production is now at its lowest level since 1956.