Fiat Chrysler Automobiles (FCA) has a new leader, with John Elkann stepping out of the background to assume control over Stellantis, the world’s sixth-largest auto group. Elkann, heir to one of Europe’s storied industrial dynasties, succeeded embattled CEO Carlos Tavares after a disastrous nine-month tenure.
Elkann’s ascent to leadership was facilitated by his family’s economic interests through the exchange-listed family investment holding company Exor. He serves as CEO of Exor and has previously reshaped Fiat Chrysler twice, first by acquiring Chrysler a decade ago and then joining forces with rival French carmaker Peugeot SA in 2021.
According to Jennifer Clark, author of L’Ultima Dinastia, Elkann is driven by the desire to ensure his family’s fortune can be passed on to the next generation. He has taken unorthodox steps, such as merging Fiat Chrysler and moving its headquarters out of Italy. This pragmatic approach allows him to pivot quickly in response to changing circumstances.
Elkann’s leadership style has been shaped by his upbringing and personal experiences. Born in 1976 in New York, he grew up in multiple countries and had a strained relationship with his mother after her remarriage. He has said that family tragedy, including the loss of relatives in accidents, has taught him to be prepared for challenges.
As Stellantis’ new leader, Elkann’s priorities include shaping the company’s future and ensuring its long-term success. He is looking for a new CEO who shares his vision and is willing to start anew with fresh assumptions.
Source: https://fortune.com/2024/12/08/who-is-john-elkann-stellantis