I guess the topic will be how do we maintain our profit margin while keeping MSRP too high.

 

The talks have already started, actually. I have to wonder if the management structure is more Europe focused as we just got done with a major reshuffle in NA.



Jokes aside, I think reality has already hit. They already slashed their profit margin for the year, and I doubt 2026 guidance will be at 11%. I guess we'll see!

 

U mean The management dogs are in the doghouse? Etc.

and other bad wordplay jokes suggest themselves.

 

U mean The management dogs are in the doghouse? Etc.

and other bad wordplay jokes suggest themselves.

? Bad wordplay jokes / puns ?
You're a man after my own heart!

 

Amazing that anything gets done in this constant state of upheaval.

Oh, wait, never mind...

 

From the Auto News article:

"Tavares may present his proposal at a board of directors meeting in the U.S. this week, said the people, who asked not to be identified discussing internal matters. The cuts could affect various departments, from finance teams to regional heads as well as brand executives, they said."​

I'll bet he will rescind his promise to give his fourteen brands 10 years to sort themselves out.

 

From the Auto News article:

"Tavares may present his proposal at a board of directors meeting in the U.S. this week, said the people, who asked not to be identified discussing internal matters. The cuts could affect various departments, from finance teams to regional heads as well as brand executives, they said."​

I'll bet he will rescind his promise to give his fourteen brands 10 years to sort themselves out.

I remember thinking at the time the 10 year window for the various marques was announced, that it sounded a bit impractical, although very generous.

Q: Given STLA's current situation, do you see a total rescinding of the 10 year window, or perhaps pruning it back to something more manageable, perhaps 7 or so years?

 

"It’s unclear whether the directors will back the CEO’s shake-up plan, with several other outcomes still possible, the people said. Board members also will be focusing on turnaround efforts to be put in place in the U.S., Stellantis’ single biggest profit pool, they said."

--"Stellantis CEO eyes management shake-up as pressure mounts", Automotive News, October 09, 2024

https://www.autonews.com/executives/stellantis-ceo-eyes-management-shakeup

 

"The board is also expected to discuss Tavares' future during the two-day meeting"

Sounds like they could fire him. Better late than never.

 

I want him out ASAP

 

I can recall people bragging when Stellantis was formed that FCA was still really in charge.
Guess that tune has changed. Or has it?

 

Where is Iaccoca when we need him?

 

Sadly here

 

Worth noting that Stellantis Board of Directors has 11 persons and only 1 ( Wan Ling Martello of BayPine Private Equity) is US Citizen while US remains the biggest revenue and profit region for Stellantis. Autonews reports that Stellantis even thinking for selling their Auburn Hills, MI headquarters.

 

And they probably will, if it helps bolster quarterly results.

Like I have indicated before: neither Fiat nor Peugeot know to run a business in N.A. They didn't know how to in the 1980s, they didn't know how to in the 1990s, and they clearly don't know how to in the 2020s.

PS - in forming STLA, they apparently thought that two negatives produced one positive.

 

Seen on AN:

"Generous payouts to shareholders"

Unbelievable.

 

Seen on AN:

View attachment 106376

"Generous payouts to shareholders"

Unbelievable.

These people can't get out of their own $%&*@)( way!

Talk about tone deaf. I think the approach should have been to SUSPEND all dividends until this stormy period ends.

 

BTW: these are not "temporary" measures until the N.A. business "stabilizes and rebounds."

These represent PERMANENT cuts that point to a future where CDJR's business is a FRACTION of what it was when STLA took over.

 

Contract?? So it's okay for the company to honor his multi million dollar contract. But he seems to be doing everything he can to not honor his workers contract. Oh, I forgot, do as I say, not as I do.

His contract is the same as the UAW's in that regard. The board can terminate his contract and his renumeration is performance based - "changing business conditions" mean he's either 1) going to get fired before his contract ends or 2) if he's still here, he's not getting anywhere near what he got last year.

BTW: these are not "temporary" measures until the N.A. business "stabilizes and rebounds."

These represent PERMANENT cuts that point to a future where CDJR's business is a FRACTION of what it was when STLA took over.

That's the truth. Same with Italy. His latest proposal is going to seriously consolidate operations. He apparently wants this company to run as a monolith instead of a semi-independent conglomerate.

 

Where's today's Walter? (Flanders or Chrysler, pick one)

 

Maybe even a Mary would work. I remember the crap she took early on, but I'd rather have her then the one trick pony we have now. One trick, cuts cuts and more cuts.

 

He renounced his American citizenship in 2012.

 

He renounced his American citizenship in 2012.

Figures...

He probably thinks of himself as some sort of "Citizen of the World".
I have to go now. The urge to vomit has become overwhelming!

 

Its not just the rich that have dividends coming. Dividends are paid out to the small retiree as well and suspending those could really hit those people hard.

 

If you have your retirement hanging on STLA stock, I may be able to give you sounder financial advise...

 

Bob Lutz is still around but he's 92 years old.

 

Isn't there were talks of Exor buying Maserati and merging it with Ferrari. Stellantis will get money. Ferrari will get a brand where it can share the platform.

 

Isn't there were talks of Exor buying Maserati and merging it with Ferrari. Stellantis will get money. Ferrari will get a brand where it can share the platform.

You mean having The Prince Of Darkness (Elkann)...take money out of one pocket only to put it into his other pocket?

How convenient...

 

Here are the changes Board has done

Stellantis Leverages Its Management Organisation with Changes to Drive Performance Under the Leadership of Carlos Tavares

AMSTERDAM – To drive simplification and enhance organisational performance in a turbulent global environment, Stellantis today announced targeted manage

www.stellantis.com

NA COO- Carlos Zarlenga gone. CFO-Natalie Knight gone.

 

Replacements are exFCA and not fresh hires by Tavares. THAT is a good thing...imho

 

Yes, a perfect example of the definition of insanity attributed to Albert Einstein: “the definition of insanity is doing the same thing over and over and expecting different results “.

 

Confirmed.

https://www.cnbc.com/2024/10/11/stellantis-ceo-carlos-tavares-to-retire-in-2026-as-automaker-struggles-in-north-america.html

 

Zarlenga was appointed to be North American COO by Tavares. He failed to take action as the inventory piled up. Tavares replaced him. This is a good sign.

 

I can't help but wonder if Zarlenga was in the in-opportune position with Tavares over him, where:
"Fix this mess!"
"Ok, i'll slash prices by 25%"
"nO NoT LiKe tHaTTttt!"

"John Elkann, Chairman of the Board of Directors, said: “The Board of Directors is unanimous in its support of Carlos Tavares and for the decisive changes announced today. We are confident that these steps to simplify our organisation will strengthen our leadership team as they work to restore the Company’s performance to industry leading levels.”

 

Well we don’t want late Chrysler Iacocca because he is why we’re in this mess. Early Chrysler Iacocca yes.

 

Well we don’t want late Chrysler Iacocca because he is why we’re in this mess. Early Chrysler Iacocca yes.

If only we were able to concentrate and blink our eyes (in the style of Barbara Eden's iconic TV character) ...and instantly make Robert Lutz 50 years younger.

Wouldn't it be fun if reality could be more like TV?

 

Last person in the American plants please turn off the lights

 

Mary understands the NA market pretty well. SA, that might be a personel problem, like it is here for Stellantis. The head of NA really needs to be a person from NA that understands the markets here. Not a leader who gets thrown here with zero experience here. It would be no different then putting an American who's never spent anytime in Europe in charge there. I hope Mr. Filosa knows what he's up against. If not he'll be gone rather quickly as well.

 

I do not subscribe to the xenophobic idea that the head of North America needs to be a person from North America that understands the markets here.

A real leader knows their own strengths and weaknesses and surrounds themselves with people who can compensate for the weaknesses....and North America needs a real leader.

We will see if Filosa is that man.

 

I don’t care where the suits are from. All I care is that they can do their damn jobs, and most importantly, that they’re ALLOWED to do their damn jobs. And that last part is not something I’m convinced is going to happen.

 

There is an old saying in the military: "Back him or sack him". Give him the job, give him the tools he needs to do his job, and leave him alone. If you are going to interfere with that in any way, fire him because you are just wasting everybody's time.

CEOs should find the best people for the job, give them the power they need to do it and then stay the hell out of the way. If that person does not do the job, they need to go, period.

And I dont want to pick a fight, but here goes. That is the way it should work right down to the lowest worker, union or not.