Stellantis closing in on new CEO with shortlist of five candidates — all men

French-Italian carmaker Stellantis has reduced its shortlist of CEO candidates to five, said two people familiar with the matter, as it nears a decision on who will lead the company through one of the industry's most tumultuous periods.

Investors are likely to seek an update on the hiring process as well as further insight into how Stellantis will manage President Donald Trump's 25% tariffs on foreign car imports at an AGM in Amsterdam later on Tuesday.

Former CEO Carlos Tavares abruptly departed the company — maker of Jeep and Peugeot brand cars — in December after a dramatic plunge in sales and profit. He left behind broken relationships with suppliers and dealers, and unhappy shareholders.

Stellantis shareholders are due to vote on Tuesday on Tavares' final remuneration package of €35m (R757.2m), which includes severance and €10m (R214.4m) in bonus pay for meeting a series of company milestones.

Stellantis has said it wants to finalise the appointment of his replacement by the end of the first half.

It has already shortlisted two internal candidates, the head of its North America business, Antonio Filosa, and the head of procurement, Maxime Picat.

The board has also interviewed three external candidates, said two people familiar with the matter. While they declined to share names, one of the sources said all the candidates are men.

The sources asked not to be named as the selection process is confidential.

Stellantis declined to comment.

The successful candidate will take the helm of a company navigating global headwinds.

Stellantis said this month it was temporarily laying off 900 workers at five US facilities and pausing production at one assembly plant each in Mexico and Canada, after the US tariffs were announced. And, like many carmakers, it is also struggling with a rocky transition to electric vehicle production.

Chair John Elkann, now steering the group in the absence of a CEO, and the Peugeot family's Peugeot Invest have both said the hiring process was progressing as planned. Elkann, the scion of the Agnelli family, told analysts in February that Stellantis had excellent internal and external candidates.

Peugeot Invest CEO Jean-Charles Douin said last month that the ad hoc committee charged with finding Tavares' replacement was meeting candidates.

The Agnelli and Peugeot families are Stellantis' largest shareholders through their investment firms.

Stellantis shares earlier this month hit an all-time low at €7.51, after topping €25 one year ago.