Stellantis, assembly reappoints John Elkann
Shareholders' go-ahead for the renewal of officers and the 2025 budget, which closed with a loss of 22.33 billion - Chairman: 'Appointment to 21 May for the presentation of the new strategy'
It was a quick go-ahead for the Stellantis shareholders' meeting ('very quick by any standards,' commented chairman John Elkann, in closing), with all items approved on the agenda, including the 2025 financial statements, which closed with a loss of L22.33 billion (mainly due to the 'strategic realignment' announced by CEO Antonio Filosa in recent months) and the decision not to distribute dividends.
'2025 was a year that none of us who work for Stellantis can call proud of, but it was important to reset and create the basis for a solid future,' explained Chairman John Elkann yesterday. The shareholders' meeting, held in Amsterdam (64.16% of the capital was present) approved, above all, the renewal of Elkann's mandate as executive director (the go-ahead came from 89.7% of the shareholders present) and of Robert Peugeot and Henri de Castries as non-executive directors (with 96.78% and 94.1% of the votes respectively); Juergen Esser, current deputy ceo and chief financial, technology&data officer of Danone, joins the board as an additional non-executive director (proposal approved by 99.4% of votes present), bringing the number of board members from 11 to 12.
Stellantis, Elkann said as he introduced the meeting proceedings, entered 'into 2026 with humility in the face of the challenges ahead and with renewed confidence in our ability to meet them. We look forward to 21 May, when we will present the next phase of our strategy', with the new strategic plan, the chairman added, explaining that 'Stellantis is entering this period with greater concentration and determination'. Elkann then thanked the shareholders 'for your continued trust, support and investment in Stellantis'.
Stellantis "faced strategic and operational challenges in the context of a complex external environment characterised by tariffs, regulatory uncertainty, increasingly fierce competition and growing geopolitical instability," said John Elkann. "We have acted swiftly to simplify our organisation, reconnect with our customers and the communities in which we operate, and begin repositioning the company for sustainable and profitable growth," he added, recalling that "a key step in this journey has been to ensure continuity and clarity of leadership. The board acted with unity and determination', choosing Antonio Filosa as CEO.
As mentioned, 2025 closed with a heavy negative result, the worst since the Italian-French merger. The cash flow, despite an improvement in the second half of the year, was negative by EUR 4.5 billion, while write-downs and extraordinary charges of EUR 25.4 billion, partly related to the need to straighten out the engine strategy, decisively influenced the last line of the income statement, against net revenues of EUR 153.5 billion. Stellantis abandoned plans to build the gigafactory in Kaiserslautern, Germany, and Termoli, Italia, through the joint venture Acc.
