and formally two major car companies of the world, Peugeot S.A. (Groupe PSA) of
France and Fiat Chrysler Automobiles N.V (FCA) of Italy, have merged and a new
entity has emerged, Stellantis. The word Stellantis incidentally means “that
brightens with stars", derived from the Latin verb stello.
company or group has formed a new 11-member Board of Directors. The 11-member
Board of Directors is led by Chairman John Elkann. Carlos Tavares as Chief
Executive Officer leads one of the most experienced and successful management
teams in the industry whose diversity, experience and competitive spirit are
amongst its key strengths.
nine non -executive directors include Robert Peugeot (Vice Chairman), Henri de
Castries (Senior Independent Director, acting as the voorzitter under Dutch
law), Andrea Agnelli, Fiona Clare Cicconi, Nicolas Dufourcq, Ann Frances
Godbehere, Wan Ling Martello, Jacques de Saint-Exupéry, and Kevin Scott.
addition, the Board of Directors of Stellantis appointed an Audit Committee, a
Remuneration Committee and a Governance and Sustainability Committee with the
following compositions. Audit Committee: Ann Godbehere (chairperson), Wan Ling
Martello and Henri De Castries. Remuneration Committee: Wan Ling Martello
(chairperson), Andrea Agnelli, Henri De Castries, Fiona Cicconi and Robert
Peugeot. Governance and Sustainability Committee: Henri De Castries
(chairperson), Andrea Agnelli, Fiona Cicconi, Nicolas Dufourcq and Kevin Scott.
is now a global company of 400,000 diverse, highly talented and experienced
employees who design, develop, manufacture, distribute, and sell vehicles and
mobility solutions around the world.
a deep bench of executive talent relentlessly committed to improvement and
innovation, Stellantis is well positioned to continue its founding companies’
track record of value creation for all stakeholders guided by a common
principle: challenge the status quo.
Governance Committees will ensure an efficient operating structure from Day
One, including company-wide performance & strategy, planning, regions,
manufacturing, brand and styling. Stellantis’ portfolio is uniquely suited to
offer distinctive, sustainable mobility solutions to meet its customers’
evolving needs, as they embrace electrification, connectivity, autonomous
driving and shared ownership.
a heritage stretching back 125 years, Stellantis is home to a full portfolio of
storied brands that have graced the road and conquered the podium in the world
of motorsport. Founded by visionaries who infused these marques with passion
and a competitive spirit, the brands cover the full spectrum of market segments
from luxury, premium and mainstream passenger vehicles to hardcharging pickup
trucks, SUVs and light commercial vehicles, as well as dedicated mobility,
finance and parts and service brands.
already has a well-established presence in three regions – Europe, North
America and Latin America – in addition to significant untapped potential in
important markets such as China, Africa, the Middle East, Oceania and India.
With industrial operations in more than 30 countries, the Company has the
ability to efficiently meet and exceed consumer expectations and deliver
vehicles and services of unparalleled quality in more than 130 markets.
Stellantis starts from a position of considerable strength with robust
operating margins reflecting the Company’s leading positions in North America,
Europe and Latin America.
Company expects to leverage its size and economies of scale as an enabler to
invest in innovative mobility solutions for its customers, targeting annual
synergies of more than Euros 5 billion at a steady state. These synergy
estimates will be achieved through the implementation of smart purchasing and
investment strategies, optimizing powertrain and platform utilization, applying
cutting-edge R&D and a continuous focus on manufacturing and tooling
efficiencies. These synergy estimates are not based on any plant closures
resulting from the transaction.
the electrified market continues to grow, Stellantis is well positioned today
with 29 electrified models available and plans to introduce ten additional
vehicles by the end of this year. The Company is strongly committed to playing
an active part in contributing to the societies in which it operates, as it
works towards achieving a long-term goal of carbon neutrality across all
products, assembly plants and other facilities.
the occasion John Elkann said: “It is no coincidence that Stellantis is born
precisely when our world requires a new kind of automotive company that will
champion clean and intelligent solutions to provide freedom of movement for
all. Our global scale and reach provide us with the resources to invest in
state-of-the-art technologies, distinctive excellence and unmatched choice for
our customers. But it is the geographic and cultural diversity of Stellantis’
people that from Day One is our greatest competitive advantage. It is they,
with their energy, their knowhow and their constant commitment who make
Stellantis what it is today. And it is they who day-by-day will build an even
greater company for this new era of mobility.”
on the first day of Stellantis’ journey, Carlos Tavares said, “This is a great
day. One year after we announced this project, Stellantis is born,
notwithstanding the unprecedented societal and economic disruption caused by
the COVID-19 pandemic. I want to warmly thank all of the teams who made this
possible and also thank the entire workforce who continued to move our
operations forward during this exceptional year. This demonstrates the agility,
creativity and adaptability of our company which aims to be great rather than
big, determined to be much more than the sum of its parts. It is also a further
signal of the new company’s determination to be a leading player in the
automotive industry in this ever changing environment. Stellantis is dedicated
to “pursuing greatness” and enhancing the well-being of its employees.”
new company began trading on January 18, on Euronext (Paris) and the Borsa
Italiana (Milan) and also on the New York Stock Exchange. Full year 2020
results of Stellantis will be reported on March 3, 2021.
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