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Scale to the fore: Stellantis has been formed |
The new corporate entity – Stellantis – resulting from the merger of Peugeot-Citroen (PSA) and Fiat-Chrysler (FCA) has now come into being, the full merger completed.
Steellantis announced that the merger was completed on Saturday, 16 January, when a board was also appointed and Stellantis’s Articles of Association became effective.
As previously announced, the Board of Directors of Stellantis is composed of two executive directors, John Elkann (Chairman) and Carlos Tavares (Chief Executive Officer), and the following nine non-executive directors, Robert Peugeot (Vice Chairman), Henri de Castries (Senior Independent Director, acting as the voorzitter under Dutch law), Andrea Agnelli, Fiona Clare Cicconi, Nicolas Dufourcq, Ann Frances Godbehere, Wan Ling Martello, Jacques de Saint-Exupéry, and Kevin Scott.
In addition, the Board of Directors of Stellantis appointed an Audit Committee, a Remuneration Committee and a Governance and Sustainability Committee with the following compositions. Audit Committee: Ann Godbehere (chairperson), Wan Ling Martello and Henri De Castries. Remuneration Committee: Wan Ling Martello (chairperson), Andrea Agnelli, Henri De Castries, Fiona Cicconi and Robert Peugeot. Governance and Sustainability Committee: Henri De Castries (chairperson), Andrea Agnelli, Fiona Cicconi, Nicolas Dufourcq and Kevin Scott.
Earlier this month, PSA and FCA shareholders approved the merger, which will create the 3rd largest global car company by revenues and 4th largest by volume. However, analysts say there is a lot of work ahead to unlock synergies, rationalise operations and create value in the bigger corporation.
Carlos Tavares, Chief Executive Officer, Stellantis, will host a digital press conference celebrating the formation of Stellantis tomorrow (Tuesday, January, 19th).
See also: China holds key to the future success of Stellantis