Thursday, December 2, 2021
49.7 F
Fort Worth

Fiat Chrysler CEO Manley to run Americas after PSA merger

🕐 1 min read

by AP News.

DETROIT (AP) — Fiat Chrysler CEO Mike Manley will run operations in the Americas when his company merges with France’s PSA Peugeot early next year.

FCA Chairman John Elkann announced Manley’s new post on Friday in a letter to employees. Manley’s role in the merged company had been a mystery.

PSA CEO Carlos Tavares will run the overall company, to be named Stellantis. Shareholders of both companies will vote on the merger Jan. 4 to seal the deal creating the world’s fourth-largest automaker. The merger is expected to be completed by the end of March.

PSA will get six seats on the new company’s 11-member board, which will be chaired by Elkann.

The Americas, especially the U.S., are key to the new company’s success. Fiat Chrysler’s Jeep and Ram brands are highly profitable, and Tavares has long wanted to sell PSA vehicles in the U.S.

Manley has been the Italian-American automaker’s CEO for 2 1/2 years, taking over when Sergio Marchionne died in 2018.

Stellantis will have the capacity to produce 8.7 million cars a year, just behind Volkswagen, the Renault-Nissan alliance and Toyota.

Related Articles

Our Digital Sponsors

Latest Articles

Fort Worth Business Press Logo
This advertisement will close in
00
Months
00
Days
00
Hours
00
Minutes
00
Seconds
seconds..
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate