00:00It took more than four months for Stelantis to replace Carlos Tavares, who was ousted in December after 10 years at the helm of Stelantis.
00:10And Bloomberg had reported that Antonio Filosa, the current head of Stelantis in North America, had been the top contender.
00:20And clearly, this is sending a huge message to the U.S. He is described as the anti-Tavares.
00:27He started his career at Fiat 25 years ago. He was a protege of the late former Fiat CEO, Sergio Marconi.
00:37And clearly, Tavares had huge clashes recently with the United States, with unions, with car dealers, with politicians about how Stelantis is handling their brands in the U.S.
00:52You know, they own Jeep, they own Ram, Dodge and Chrysler, of course.
00:58And they've been accused there of not reviving fast enough the portfolio of these brands and really losing market share in the U.S.
01:08So we'll see if Antonio Filosa reassures investors, especially on the U.S. markets.
01:16Of course, there is the uncertainty about Trump's trade policies, because even though Stelantis has a lot of production lines in the United States,
01:25they import a lot of car parts from Canada, from Mexico, and in fact, they recently said that they were withdrawing, kind of suspending their guidance for the rest of the year due to the uncertainty about all these tariffs.
01:42They even at some point considered moving some production from China to Europe in order to avoid the potential U.S. tariffs on China.
01:53The North America deliveries of Stelantis fell 20 percent in the first quarter, and the market cap of Stelantis has shrunk about two-thirds since the peak in March last year.
02:07So we'll see if Antonio Filosa can reassure investors, especially reviving the relationships with the U.S. market.
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