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Stellantis has announced key leadership changes effective June 1, 2024. Luca Napolitano, currently CEO of the Lancia brand, will take on additional responsibilities as Chief Sales & Marketing Officer, succeeding Thierry Koskas, who will focus on expanding the Citroën brand. Olivier Bourges will replace Richard Schwarzwald as Chief Customer Experience Officer, aiming to boost customer satisfaction under the 'Dare Forward 2030' plan. Clara Ingen-Housz, who joined Stellantis in early 2024, will head the Global Corporate Office and Public Affairs, bringing her international legal experience to the executive team. CEO Carlos Tavares expressed confidence in the new appointments, highlighting their roles in driving the company's strategic objectives.
Stellantis will host an Investor Day webcast on June 13, 2024, at 8:00 a.m. EDT / 2:00 p.m. CEST. CEO Carlos Tavares, CFO Natalie Knight, and other top executives will discuss the company's strategic positioning and industry outlook. The event will be available live and as a replay on their corporate website and through a designated webcast link. Stellantis aims to become a carbon net-zero mobility tech company by 2038, as part of its Dare Forward 2030 strategic plan. Stellantis is recognized for its iconic brands such as Abarth, Alfa Romeo, Chrysler, and Jeep.
Stellantis has announced the launch of the second tranche of its 2024 Share Buyback Program, which started on May 23, 2024, and will conclude by August 30, 2024. This tranche involves a maximum of €1 billion, part of the overall €3 billion Program initiated on February 15, 2024. The buyback will be executed by an independent investment firm. The company plans to cancel most of the repurchased shares, but up to €0.5 billion will be reserved for employee stock plans and equity compensation to avoid shareholder dilution. The buyback will adhere to the rules and regulations, including the Market Abuse Regulation 596/2014.
Stellantis CEO Carlos Tavares will participate in a fireside chat at the Bernstein 40th Annual Strategic Decisions Conference on May 29, 2024. The event will be broadcast live at 9:00 a.m. EDT / 3:00 p.m. CEST. Interested parties can watch the session via a webcast link available on the Stellantis corporate website. A recorded replay will be available afterward. Stellantis is known for its diverse brand portfolio and is executing its 'Dare Forward 2030' strategic plan aimed at achieving carbon net-zero status by 2038.
Stellantis announced leadership changes effective June 1, 2024. Christine Feuell has been appointed as the CEO of the Ram brand in addition to her role as CEO of the Chrysler brand, succeeding Timothy Kuniskis, who is retiring after nearly 32 years. Feuell will continue to lead Chrysler’s electric transformation while taking on Ram. Matt McAlear is named CEO of the Dodge brand, replacing Kuniskis, and will join the Top Executive Team. McAlear previously led Dodge sales operations and has experience in the automotive, medical, and digital sectors. Stellantis aims to achieve carbon net zero by 2038 under its Dare Forward 2030 strategic plan.
Leapmotor International, a joint venture between Stellantis (51%) and Leapmotor (49%), has commenced operations to expand its electric vehicle (EV) sales globally. Beginning September 2024, the company will start its European market entry in nine countries, followed by expansions in India, Asia Pacific, Middle East, Africa, and South America by Q4 2024.
The initial launch will feature the T03 and C10 models. The T03 is a competitive A-segment urban EV, boasting a 265 km WLTP range and B-segment interior space. The C10 is a D-segment family vehicle, offering a 420 km WLTP range and a 5-star E-NCAP rating.
In October 2023, Stellantis invested approximately €1.5 billion to acquire a 21% stake in Leapmotor, aiming to leverage Leapmotor's technology and Stellantis' global reach. Leapmotor International aims to establish 200 sales points in Europe by year-end 2024, ramping up to 500 by 2026.
Stellantis Pro One solidifies its market leadership in the Middle East & Africa, Europe, and South America regions, achieving a record 26% market share in the Middle East & Africa. The commercial vehicles offensive drives one-third of Stellantis' net revenues. Pro One aims for global leadership by 2027, while maintaining No. 1 positions in EU30 and South America. With a strategic plan in place, Stellantis Pro One is on track to achieve its Dare Forward 2030 targets.
Stellantis N.V. completed the First Tranche of its 2024 Share Buyback Program, purchasing a total of 41,094,781 common shares for €999,999,995. The company repurchased shares at various prices between April 26-29, 2024, totaling €97,909,026.26. As of April 29, 2024, Stellantis held 183,185,078 common shares, representing 4.54% of the total issued share capital.
Stellantis reported Q1 2024 net revenues of €41.7 billion, down 12% from Q1 2023 due to various factors but offset by firm net pricing. Consolidated shipments were 1,335 thousand units, down 10%, with a focus on new product wave preparation. Global BEV and LEV sales increased, with an ordinary dividend increase of 16%. The company confirmed its FY 2024 guidance and highlighted key achievements, partnerships, and strategic investments. Stellantis remains committed to its Dare Forward 2030 plan and upcoming events include an Investor Day in June.
Stellantis N.V. provided an update on the First Tranche of its 2024 Share Buyback Program, showcasing a detailed breakdown of shares repurchased, average prices, and total volume. The company revealed a total of 14,569,030 common shares repurchased between April 19-25, 2024, amounting to €338,327,078.56. With a cumulative purchase of 36,868,256 shares since February 28, 2024, totaling €902,090,968.76, Stellantis aims to enhance shareholder value through strategic buyback initiatives.
