Stellantis share prices fall as new chief executive Antonio Filosa avoids big shake-up of top jobs

Stellantis’ new Chief Executive Officer Antonio Filosa started his tenure on Monday by retaining his previous role as head of the key North American market, while avoiding major changes to the French-Italian automaker's senior management team.

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Stellantis shares were briefly suspended at the open, after they fell more than 5%. They were down 2% by 1130 GMT, among the worst performers in Italy’s blue-chip index, with the limited changes leaving investors underwhelmed.

A source familiar with the matter said Mr. Filosa’s decision to keep the North American post stemmed from his commitment to continue the job he started about nine months ago to revamp the region, which has been at the core of Stellantis’ recent problems. He also wanted to continue to manage the impact of US tariffs, the source added.

However logical, the decision suggested “that revamping Stellantis may not be a full-time job,” analysts at Jefferies said.