Stellantis (STLA.US) experiences high-level personnel changes again, CFO unexpectedly resigns.

Stellantis (STLA.US) Chief Financial Officer Doug Ostermann is set to resign, marking another change in senior leadership at the automotive manufacturer. Stellantis announced on Monday that Ostermann is stepping down for personal reasons. Ostermann was appointed as CFO in October 2024, and his position will be immediately taken over by Joao Laranjo. Laranjo, a former senior employee of Stellantis' predecessor Fiat Chrysler Automobiles, rejoined the company this year as the North American finance chief. Oddo BHF analyst Michael Foundoukidis stated that Ostermann's departure came as a surprise, exacerbating concerns about the overall management instability and the effort needed to turn the company around. This is the latest in a series of personnel changes at Stellantis. The automaker appointed Antonio Filosa as the new CEO in May, aiming to reverse the company's decline. Under the leadership of Carlos Tavares, Stellantis saw a significant decrease in market share in the US and Europe. In July, Stellantis reported a net loss of 2.3 billion euros (approximately 2.7 billion US dollars) for the first half of the year, surprising investors. The company also predicted a reduction in profits of around 1.5 billion euros this year due to higher tariffs impacting its struggling North American business. The CFO change comes as Stellantis suspends production at some of its European factories, citing continued weak demand for models like the Alfa Romeo Tonale SUV. European automakers are facing challenges including slowing sales of electric vehicles, tepid consumer demand, and increasingly stringent emissions regulations. Intensifying competition is also adding to their pressures. In pre-market trading on Monday, Stellantis was up 0.33% at $9.26 at the time of writing. The stock has fallen by 23% year-to-date.