The unexpected resignation of Carlos Tavares as head of Stellantis has sparked intense speculation about who will follow in his footsteps. Among the potential successors, Luca Maestri, the Chief Financial Officer of Apple, is now seen as a strong contender.
An Abrupt Exit for Carlos Tavares
As you may know, Carlos Tavares, who has been the CEO of Stellantis since the company’s inception in 2021, recently announced his immediate resignation, stepping down well before his anticipated end of term in 2026. His departure came after disagreements with shareholders over his management strategies, particularly his aggressive cost-cutting measures in North America. The board now faces the significant challenge of appointing a new CEO by the first half of 2025. They are currently considering internal candidates like Antonio Filosa and Maxime Picat, as well as external candidates.
Luca Maestri: A Global Journey in Automotive and Technology
Luca Maestri, an Italian national, is the current Vice President and Chief Financial Officer at Apple. A graduate of Luiss Guido Carli University in Rome and Boston University, he began his career at General Motors. There, he held key positions in Europe and Latin America, including overseeing a joint venture with Fiat. After stints at Nokia Siemens Networks and Xerox, he joined Apple in 2013. Under Tim Cook’s leadership, Maestri has become a key figure in the financial management of the tech giant. His blend of experience in both the automotive and technology sectors could be a valuable asset for Stellantis as it transitions towards electric and connected vehicles. He announced his departure from Apple at the end of last August, effective January 1, 2025, which could be timely.
What Strategy for Stellantis?
Choosing a candidate from the technology sector, like Luca Maestri, makes sense, especially considering the current chairman of Stellantis, John Elkann’s intent to reposition the group. This approach is reminiscent of the hiring of Benedetto Vigna, a former executive at STMicroelectronics, to lead Ferrari in 2021. By enhancing the synergy between automotive manufacturing and technological innovation, Stellantis could accelerate its shift towards more connected solutions, a strategic imperative to address the current challenges in the industry.
A Still Uncertain Nomination Process
Despite the rumors, Stellantis has officially denied making any decision regarding Luca Maestri. The selection process, overseen by a special committee, is expected to conclude in the coming months. Other names, such as Luca De Meo, the current CEO of Renault, are also being mentioned, although these candidates have shown little interest in the position. The final choice will need to align with Stellantis’ strategic ambitions while ensuring continuity in its governance. The saga is far from over.
In the meantime, the interim management continues under a committee established by John Elkann.