Stellantis - the new company formed out of the merger between Fiat Chrysler Automobiles (FCA) Group and Groupe PSA - has announced its Board of Directors. The board will be comprise of 11 members with the majority of the non-executive directors being independent. The group has company had already confirmed that the current FCA Chairman John Elkann will chair Stellantis, while Robert Peugeot has been appointed as the Vice Chairman. Peugeot is also the Chairman and CEO of FFP Holdings, a reference shareholder of PSA.
Also Read: FCA, Groupe PSA Merger Officially Named ‘Stellantis'
Furthermore, CEO of Groupe PSA, Carlos Tavares has been appointed as the Chief Executive Officer for Stellantis, while Henri de Castries, the former CEO and Chairman of AXA, has been appointed as a Senior Independent Director. In addition, the board comprises of a number of non-executive directors including Andrea Agnelli, Fiona Clare Cicconi, Nicolas Dufourcq, Ann Frances Godbehere, Wan Ling Martello, Jacques de Saint-Exupery and Kevin Scott.
The merger makes Stellantis one of the largest automotive groups in the world, behind VW, Toyota and the Renault-Nissan Alliance
Stellantis' independent board members are drawn from various backgrounds to bring in a new perspective and experience, in line with the new enterprise, the company said in a statement. They will help the company to capitalise on its strengths and capabilities in the new era of mobility,
Also Read: Fiat Chrysler Automobiles And Groupe PSA Amend Merger Terms To Conserve Cash
PSA Group and FCA agreed to a 50:50 merger in December last year, which will create one of the largest auto groups. The complete merger process is aimed to be completed by the first quarter of 2021. Stellantis will have an annual production volume of 8.7 million units, which places the company fourth behind the Volkswagen Group, Toyota and the Renault-Nissan Alliance. The newly formed company will also become the world's third largest manufacturer by revenue, with an annual turnover 170 billion Euros.
