Stellantis turns to longtime CEO associate for CFO job

By Romolo Tosiani and Giulio Piovaccari

MILAN -Stellantis named its second chief financial officer in less than a year, as CEO Antonio Filosa on Monday promoted the current finance chief of the North America region with whom he has worked closely for 15 years.

Filosa himself only took office in June as weak performance on major markets prompted a change of leadership at the maker of Fiats, Peugeots and Jeeps. 

With immediate effect, Joao Laranjo, a 47-year-old Brazilian national, replaces Doug Ostermann, who is leaving for personal reasons, Stellantis said in a statement.

Laranjo will retain his position as CFO for North America, traditionally Stellantis' most lucrative market. 

STELLANTIS IN THE MIDST OF A TURNAROUND DRIVE 

Filosa and Laranjo have worked together, first at Fiat Chrysler, now part of Stellantis, and later at Stellantis, both in South and North America.

"Having worked closely with Joao for 15 years and witnessed his rise through the ranks, I have consistently been impressed by his excellent financial acumen, results-driven mindset, and deep understanding of our industry's complexities," Filosa said in a statement.

Filosa has also retained his previous role as head of Stellantis' North American operations.

Milan-listed shares in Stellantis were up 1% by 1515 GMT after falling as much as 2.7% in early trade.

Stellantis, which last year confirmed itself as the world's fourth largest carmaker by vehicle unit sales, confirmed its 2025 financial guidance on Monday, reiterating targets announced in July.

The CFO change "adds to the general management instability and may add to worries about the extent of the efforts required to turn around the company," Oddo-BHF analyst Michael Foundoukidis said, describing Ostermann's departure as surprising.

Ostermann was made CFO in October last year by then CEO Carlos Tavares, during a period of declining sales and profitability that ultimately led to Tavares' departure in December.

During his tenure as CFO, Ostermann helped to stabilise Stellantis' financial position and steer the group through the CEO transition, while laying the groundwork for a strategic response to its downturn.

Ostermann did not immediately respond to a request for comment.

Laranjo will also take on Ostermann's responsibilities as head of Stellantis Financial Services and board member at Chinese EV partner Leapmotor.

Laranjo will remain based in Detroit. He joined Fiat Chrysler in 2009 as chief accounting officer for Latin America and later served as regional CFO. In 2024, he briefly left the group to join Goodyear as vice president of finance for the Americas.

(Reporting by Romolo Tosiani in Gdansk, Giulio Piovaccari in Milan. Additional reporting by Gilles Guillaume in Paris. Editing by Matt Scuffham, Mark Potter and Barbara Lewis)