FCA CEO Mike Manley Excluded From Stellantis Board

The PSA Group and Fiat Chrysler have named the 11 members of Stellantis’ board of directors, with one notable absence. While PSA boss and future Stellantis CEO Carlos Tavares is on the board, FCA CEO Mike Manley was excluded.

As part of an agreement signed between PSA and FCA in December of 2019, the Stellantis board will only have two executive members, which will be Tavares and current FCA chairman, John Elkann.

Fiat Chrysler will reportedly announce Manley’s new role within Stellantis sometime “before the merger completion”, which is expected to close in Q1 of 2021.

Read: PSA Group Buys Back Shares From Dongfeng As Part Of FCA Merger Agreement

Elkan will also serve as chairman of the board, with Robert Peugeot, the head of the Peugeot family acting as vice chairman. Meanwhile, Andrea Agnelli, president of Italian soccer club Juventus and a member of the Agnelli-Elkann family, will be the second board member representing FCA in Stellantis.

Each carmaker ended up nominating five members in addition to Tavares, and of the 11 total, seven are considered independent, as reported by Autonews Europe. The senior independent director will be Henri de Castries, former CEO of AXA and a board member for multiple other companies, including Nestle.

The other six independent board members are: Fiona Clare Cicconi (FCA), Nicolas Dufourcq (PSA), Ann Frances Godbehere (PSA), Wan Ling Martello (FCA), Jacques de Saint-Exupery (PSA), Kevin Scott (FCA) – Dufourcq also happens to be the general manager of Bpifrance, the investment fund that holds 12% of PSA.

While Manley’s future new position is currently unclear, Tavares previously stated that the two have been communicating daily as they work towards completing the merger.

By joining forces, PSA and FCA are set to create the world’s fourth-largest carmaker by volume, after Toyota, VW and the Renault-Nissan Alliance.

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