Mike Manley-led FCA merged with PSA to form Stellantis in January this year.
Mike Manley has stepped down from his role as Head of Americas at Stellantis to take up the role of CEO at AutoNation, America’s largest automotive retailer based in Florida, from November 1.
Mark Stewart (Chief Operating Officer, North America) and Antonio Filosa (Chief Operating Officer, Latin America) will henceforth report directly to Carlos Tavares, Chief Executive Officer, Stellantis.
Speaking on the development, Carlos Tavares, CEO Stellantis, said, “It’s been my privilege to know Mike first as a competitor, then as a partner and colleague in the creation of Stellantis, but most importantly, always as a friend. So while I’m personally sorry to no longer have Mike as a colleague, I’m equally delighted for his new CEO role and glad that he will be joining the Board of the Stellantis Foundation.”
Manley led Fiat Chrysler Automobiles (FCA) till January when the group merged with French manufacturer Peugeot S.A. (PSA) to form the world’s fourth-largest carmaker, Stellantis. Under Manley’s leadership, the merged entity delivered a record 16.1 percent Earnings Before Tax (EBIT) margins in North America for the first half of 2021. This was even as PSA group hiked its overall 2021 profit margin target after earnings came in well above forecast in the first six months of the year.
Wishing the Stellantis team every success, Manley commented, “Working with Carlos to create this extraordinary company, with the constant support of our shareholders, has been a huge privilege both professionally and personally. Finally, I am very honoured to have been asked to join the Stellantis Foundation Board.”