In a strategic leadership shake-up, automotive giant Stellantis has named Antonio Filosa, its North American chief, as the new CEO. The move, effective from June 23, is aimed at rejuvenating the company’s declining performance in the U.S. and reversing a sagging share price. Filosa, who joined the automaker in 1999 and has spent much of his career in South America, was the board's unanimous choice after a lengthy selection process.

Stellantis, the world’s fourth-largest carmaker and parent company of Jeep, Chrysler, and Peugeot, has faced mounting pressure from fierce competition with Chinese manufacturers and the economic ripple effects of U.S. tariffs. In particular, its U.S. market share has been slipping, prompting the need for bold strategic direction. Filosa’s familiarity with the North American auto landscape is seen by many as a key asset as the company seeks to regain ground.

While Filosa’s appointment was anticipated by some, the market reacted lukewarmly. Stellantis shares initially climbed by about 1% but later dropped 0.3% by mid-day trading. Analysts offered mixed views—some interpreted the appointment as a fallback option after a protracted executive search, while others emphasized Filosa’s established relationships with American dealers and experience navigating recent U.S. trade turbulence.

In addition to steering the U.S. rebound, Filosa is expected to confront other pressing challenges, including streamlining the company’s expansive portfolio of 14 brands. Industry observers have speculated that some underperforming marques could be cut, a move that may trigger difficult discussions with unions and employees. Already, French union CFE-CGC has urged Filosa to revamp the corporate strategy and distance the company from what it called the "cost-cutting authoritarianism" of the Tavares administration.

Following the abrupt exit of former CEO Carlos Tavares in December, interim leadership was held by Stellantis Chairman John Elkann, heir to the Agnelli dynasty, which remains the company’s largest shareholder through its holding firm, Exor. Elkann and the Peugeot family, another key stakeholder, have thrown their support behind Filosa, praising his collaborative management style.

Filosa, who turns 52 next month, is expected to quickly unveil a new executive team. He also carries the added responsibility of global head of quality—a position he took on earlier this year. With decades of experience and deep institutional knowledge, Stellantis is betting on Filosa to engineer a turnaround and reposition the automaker for long-term success.