what successor to turn things around at Stellantis?

© AFP/LUDOVIC MARIN

– John Elkann (right), executive chairman of Stellantis, becomes the new interim captain of the group, following the ouster of general manager Carlos Tavares (left).

Storm warning at Stellantis, where the captain has left the ship! Carlos Tavares, the general director of the car manufacturer, resigned with immediate effect this Sunday, December 1. A hasty departure that shakes the entire sector, even though the boss was not due to retire for a year. But, “several different points of view” with the board of directors of the group of 15 brands therefore knocked Carlos Tavares off his pedestal.

His departure leaves Stellantis in a delicate position. If the former CEO, described as a cost-killer, had been able to turn around the PSA group and lead it to the creation of Stellantis (merger with Fiat Chrysler in 2021), his authoritarian management and the incessant turnover among managers have created internal fractures. The cash machine he had built also stalled this year, in particular because of significant falls in sales and margins in the United States and Europe. Its still hesitant strategy in terms of electric cars, combined with bold partnerships with Chinese players, has not necessarily succeeded in making the brands shine. Many observers finally recall its obsession with lowering production costs, and the lack of internal skills in software. There will therefore be many projects for Tavares' successor, and the terrain is rather undermined.

Who is the ideal candidate to succeed Carlos Tavares?

The Stellantis board of directors has obviously not yet appointed a definitive replacement. It will therefore be John Elkann, the discreet heir to the Fiat empire and the Agnelli family (which owns around 14% of the group) who will act as interim manager, while he appoints a new general manager, during the first half of 2025. But who would be the ideal candidate to both restore margins and improve the share price? While calming the growing tensions in Italy, between the reference shareholder, the Exor holding company of the Agnelli family, and the unions. Several names are circulating, including internal and external leaders, without establishing themselves as favorites.

First of all there is Jean-Philippe Learnedgeneral director of the Alfa Romeo brand since 2021. At 58 years old, he alone embodies experience and perseverance, thanks to his three decades spent within PSA. This manager rose through the ranks, becoming boss of Peugeot and Citroën, before taking the reins of the Italian manufacturer. His career demonstrates his ability to manage brands in demanding contexts and to take stock of the challenges of the sector. However, his career closely linked to PSA is not without raising some questions. Like Carlos Tavares, Jean-Philippe Imparato could be seen as a symbol of continuity rather than renewal…

Olivier Françoiscurrent CEO of Fiat and Abarth, has established himself internally as the other strong candidate for the position of CEO of Stellantis. At 61, he seems capable of relaunching sales in North America, thanks to his knowledge of the local market, where he managed Chrysler for several years. But the former general manager of DS Automobiles is above all a “marketer” who has distinguished himself on several occasions through the advertising campaigns he financed during the Super Bowl. This could constitute a hindrance, as the group must above all face industrial challenges.

Because Stellantis should once again look for a cost-killer profile. And there is one, very well known, in the automotive landscape… The craziest hypothesis would indeed be to see Luca de Meothe boss of the Renault group, move on to the competition! At 57, this architect of the spectacular turnaround of the former management company has just achieved very good results and successfully completed his Renaulution plan. This, even before the tornado of profits expected with the small electric R5 and R4. Luca de Meo is also returning for four years at the head of Renault, until 2028, a decision amply justified in view of the transformation of the group, the reduction of its debt, and therefore the recovery of its profitability. Shareholders also confirmed an increase in Luca de Meo's remuneration, which could reach 5.53 million euros annually. Very far from what Carlos Tavares earned until now…

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