Stellantis CEO Antonio Filosa is about to unveil his plan to turn the company around as the automaker's stock lags
Stellantis CEO Antonio Filosa is set to unveil a turnaround plan for the automaker as its stock has significantly declined during his tenure. The plan will focus on key brands and strategies to reduce costs and return to profitability after a substantial net loss last year. Filosa expressed confidence in the company's future and the clarity of their strategic direction.
- ▪Stellantis stock has dropped nearly 30% since Antonio Filosa became CEO.
- ▪The turnaround plan will be presented during a capital markets day at Stellantis' North American headquarters.
- ▪Filosa aims to outline clear priorities and targets for the company's recovery.
Opening excerpt (first ~120 words) tap to expand
DETROIT — Stellantis CEO Antonio Filosa has said leading the transatlantic automaker is a dream come true, but the company's stock has been anything but that for investors under his short tenure thus far.Stellantis stock is off nearly 30% since Filosa, a company veteran from Italy who climbed through the ranks, was named CEO nearly a year ago. It's down about 21% since he officially started as CEO last June.Thursday marks a major next step for Filosa and his executive team, as they unveil a turnaround plan for the embattled automaker during a capital markets day at Stellantis' North American headquarters near Detroit.Filosa has promised investors that the day "will outline the next phase of our strategy with clear priorities, clear targets, and a focused road map for execution."The…
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