The new auto giant Stellantis was born from the merger of the family groups Peugeot Société Anonyme and Fiat Chrysler Automobiles!
Family car manufacturers Fiat Chrysler Automobiles (FCA) and Peugeot Société Anonyme (PSA) just completed their merger in January 2021. From this merger was born the giant Stellantis, a company which now brings together 400,000 employees and 14 vehicle brands, i.e. the five brands of the French group PSA (Peugeot, Citroën, DS Automobile, Opel and Vauxhall) and the nine of the Italian-American group FCA (Fiat, Dodge, Chrysler, Jeep, Abarth, Alfa Romeo, Lancia, Maserati and RAM). The Agnelli family, who founded Fiat in 1899, and the Peugeot family, whose companies were founded in 1810, are the two largest shareholders of Stellantis via their respective holding: Exor N.V. (14.4%) and EPF / FFP (7.2%). Representatives of each family sit on the Stellantis Board of Directors: Robert Peugeot, vice chairman, John Elkann (great-great-grandson of the founder Giovanni Agnelli), chairman of the board and Andrea Agnelli, director among the 11 members of the board. To ensure the success of this merger, the two families took care to allocate key senior management positions to their closest associates. In addition, Carlos Tavares, the former CEO of PSA, has been appointed chairman and CEO of the new Stellantis group. The good financial situation of the two family groups, as well as their strategic and geographic complementarity, suggests a synergy that will allow the new giant to reach for the stars, as the world’s 4th largest group in terms of vehicles sold!
Read the news: ‘Stellantis Sees Improved Profitability in 2021 After Merger’
