Peugeot Invest CEO Optimistic on Stellantis Despite Share Price Decline
Peugeot Invest's Perspective on Stellantis Performance and Strategy
Disappointing Share Price Performance
PARIS, Sept 24 (Reuters) - Stellantis' second-largest shareholder Peugeot Invest said on Thursday that the automaker's share price performance was clearly disappointing, but that its first-half results had shown some positive signs.
Stellantis shares fell 48% in the first half of the year, weighing on Peugeot Invest's results.
Peugeot Invest's Investment Approach
Automotive Assets and Family Investments
Peugeot Invest, the investment vehicle of the Peugeot family, also said it had no plans at this stage to separate its automotive assets from the family's other investments.
Alignment with Stellantis Strategy
Stellantis CEO Antonio Filosa's strategic plan is relatively recent and it is important to give it time, Peugeot Invest CEO Jean-Charles Douin said during a presentation, adding the Peugeot family was fully aligned with the automaker's strategy.
Legacy Investment Focus
"For Stellantis, clearly it is not an ordinary investment. It is the historic investment of the business. We treat it as a legacy investment we continue to focus on and go through the recovery of the business," said Douin.
Peugeot Invest's Shareholding Position
Peugeot Invest holds almost 8% of Stellantis' shares, second only to Exor, according to LSEG data.
(Reporting by Gilles Guillaume; Editing by Susan Fenton and Mark Potter)