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Stellantis N.V. announces the appointment of Natalie Knight as the new Chief Financial Officer effective July 10, 2023, replacing Richard Palmer. Knight is currently the CFO at Ahold Delhaize and has a robust background in finance, including roles at Arla Foods and adidas AG.
CEO Carlos Tavares expressed confidence in Knight's ability to drive Stellantis' Dare Forward 2030 strategy, emphasizing her expertise in business transformation and ESG focus. Richard Palmer will leave the company on June 30, 2023, after a distinguished 20-year career, contributing significantly to Stellantis' merger and integration.
This leadership change marks a strategic move for Stellantis as it aims to enhance its financial performance and operational efficiency.
Stellantis N.V. has announced the release date for its First Quarter 2023 Shipments and Revenues, which will be made public on May 3, 2023. A live audio webcast and conference call will begin at 2:00 p.m. CEST / 8:00 a.m. EDT on the same day. Investors can view the related press release and presentation materials on Stellantis' corporate website starting at 8:00 a.m. CEST / 2:00 a.m. EDT. Additionally, a recorded replay will be available for those unable to join the live session. Stellantis, a leader in the automotive industry, is focused on innovative products and sustainable mobility solutions.
Stellantis announced its progress on the First Tranche of its Share Buyback Program, initiated on March 16, 2023, with a total budget of €500 million. As of April 13, 2023, the company repurchased 605,000 shares during the week of April 7-13 at an average price of €16.8155 per share, totaling €10,173,391 for this period. Cumulatively, from March 17 to April 13, Stellantis has bought 2,578,740 shares for €42,330,853. This buyback initiative aims to enhance shareholder value, offering a strategic approach to managing capital and potentially increasing earnings per share (EPS).
Stellantis held its 2023 Annual General Meeting on April 13, 2023, where all shareholder resolutions were approved. Notably, a EUR 4.2 billion dividend distribution was sanctioned, amounting to EUR 1.34 per common share, translating to USD 1.463548 for NYSE-listed shares. This payout is sourced from the profits recorded in the 2022 Annual Accounts. Key dates for shareholders include an ex-date of April 24, 2023, a record date of April 25, 2023, and a payment date scheduled for May 4, 2023. Additionally, the advisory vote on the 2023 Remuneration Report showed 80.4% approval for sections without pre-merger legacy matters and 51.9% for those with legacy matters. These outcomes reflect Stellantis' commitment to incorporating shareholder feedback.
Stellantis announced the progress of its first tranche of the share buyback program, initiated on March 16, 2023, with a total allocation of €500 million. During the period from March 31 to April 6, 2023, the company repurchased 775,000 shares at an average price of €16.4981 per share, amounting to €12,786,059. Since the program's start, Stellantis has bought back a total of 1,973,740 shares at a cost of €32,157,462. As of March 30, 2023, Stellantis held 71,099,284 shares in treasury, representing 2.21% of the total issued share capital. The buyback aims to enhance shareholder value and return capital to investors.
Stellantis N.V. has announced a live webcast for its Annual General Meeting, set for April 7, 2023. The meeting will focus on the approval of Stellantis's 2022 financial statements. Interested parties can access the webcast on the official Stellantis website on the day of the event. As one of the top global automakers, Stellantis aims to lead in sustainable mobility technology while delivering value to stakeholders and communities. The meeting signifies a step towards transparency regarding the company’s financial performance.
Stellantis has restructured its European financing and leasing services, introducing the new Stellantis Financial Services and Leasys brands. This move follows the consolidation of Leasys and Free2move Lease, aimed at enhancing multi-brand operations. With partnerships established with BNP Paribas Personal Finance and Santander Consumer Finance, Stellantis intends to double its net banking income by 2030 as part of its Dare Forward 2030 strategy. The operational leasing company, Leasys, aims to lead the European market with a target fleet of one million vehicles by 2026, supported by recent acquisitions.
Stellantis announced that its Mangualde Production Center in Portugal will start producing fully battery electric light commercial vehicles by 2025. This makes Mangualde the first plant in Portugal to produce large series of electric vans for Citroën, Fiat, Opel, and Peugeot. The decision was supported by a €119 million investment through the GreenAuto project. Stellantis currently holds a 43% market share in electric vans in Europe, achieving a 22% share in Portugal. This strategic move aligns with Stellantis's Dare Forward 2030 plan, targeting carbon neutrality by 2038.
Stellantis N.V. reported the completion of its first tranche of a share buyback program, which commenced on March 17, 2023. Up to €500 million is allocated for this initiative, with transactions occurring in the open market until June 19, 2023. From March 24 to March 30, 2023, Stellantis repurchased a total of 588,939 shares, totaling €9,593,753 at an average price of €16.2899. Overall, 1,198,740 shares have been purchased for €19,371,403 since the program's onset. As of March 30, 2023, Stellantis holds 70,324,284 shares in treasury, equivalent to 2.19% of its total issued share capital.
