Skip to main content
Sister Publication Links
  • Automotive News
  • Automobilwoche
  • Automotive News Canada
  • Automotive News China
Subscribe
  • Subscribe
  • Newsletters
  • Login
  • HOME
    • Latest news
    • Automakers
    • Suppliers
    • New Product
    • Environment/Emissions
    • Sales By Market
    • On The Move
    • Auto Shows
    • Munich Auto Show
    • Geneva Auto Show
    • Paris Auto Show
    • Beijing Auto Show
    • Shanghai Auto Show
  • Features
    • Long Read
    • Interview of the Month
    • Focus on Electrification
    • Focus on Technology
    • Segment Analysis
    • Cars & Concepts
    • Supplier Spotlight
    • Europe By The Numbers
  • Opinion
    • Blogs
    • Commentary
    • Guest columnists
  • Photos
    • Photo Galleries
    • Geneva Photo Gallery
    • Beijing Photo Gallery
    • Frankfurt Photo Gallery
    • Paris Photo Gallery
    • Shanghai Photo Gallery
  • Podcasts
  • Car Cutaways
  • EVENTS
    • ANE Congress
    • ANE Rising Stars
    • ANE Eurostars
  • More
    • Publishing Partners
    • Social Media
    • Contact Us
    • Media Kit
    • About Us
    • Capgemini: Invent Head on automotive takeaways from CES 2023
    • Capgemini: Securing the industry's future through a radical rethink
    • Capgemini: Succeeding with the automated driving journey through AI
    • Capgemini: The circular economy is spurring new thinking on EV batteries
    • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
    • HEXAGON: Plugging into data is the only way to make winning EVs
    • TUV Rheinland: Ideas, services and certifications for smart mobility
    • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
    • Toyota Europe
    • UFI Filters
    • Facebook
    • Instagram
    • LinkedIn
    • Twitter
MENU
Breadcrumb
  1. Home
  2. Automakers
September 29, 2020 06:16 AM

FCA's Manley excluded from board of merged company with PSA

Peter Sigal
Andrea Malan
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    PARIS/MILAN -- PSA Group and Fiat Chrysler Automobiles have named the 11 members of the board of directors of Stellantis, the new company that will result from the automakers’ merger.

    Carlos Tavares, the CEO of PSA and the future CEO of Stellantis, is on the board, but Mike Manley, CEO of FCA, is not.

    As part of the automakers' combination agreement signed in December 2019, the board will only have two executive members. These are Tavares and John Elkann, current FCA chairman. FCA has previously said Manley’s role within Stellantis will be announced "before the merger completion."

    Elkann, who is the head of FCA parent company Exor, will be the chairman of the board. Robert Peugeot, the head of the Peugeot family companies and a member of PSA’s supervisory board, will be the vice chairman.

    Andrea Agnelli, president of the Italian football club Juventus and a member of the Agnelli-Elkann family that controls FCA, is the second board member representing FCA. Agnelli is a cousin of John Elkann.

    As agreed to in the terms of the companies’ combination agreement, each automaker has nominated five members in addition to Tavares; of the 11, seven are considered independent. 

    One board member nominated by each company will represent employees.

    The senior independent director will be Henri de Castries, former CEO of the insurer AXA and a board member at a number of companies including Nestle. 

    The other six independent board members are:

    • Fiona Clare Cicconi (FCA), representing FCA employees and head of human resources at AstraZeneca
    • Nicolas Dufourcq (PSA), the general manager of Bpifrance, the French government investment fund, which holds 12 percent of PSA.
    • Ann Frances Godbehere (PSA), director at Royal Dutch Shell and a former financial executive
    • Wan Ling Martello (FCA), former executive vice president at Nestle
    • Jacques de Saint-Exupery (PSA), representing PSA employees and the head of the workers’ committee at PSA
    • Kevin Scott (FCA), the chief technical officer of Microsoft.

    The merger of PSA and FCA, which would create the fourth-largest automotive manufacturer by volume, was announced in the autumn of 2019 and is expected to close in the first quarter of 2021. 

    Manley's role in Stellantis has yet to be disclosed.

    Manley's role unclear

    There has been no announcement of who would run Stellantis on a day-to-day basis beyond naming Tavares as CEO for an initial five-year term.

    Manley, CEO of FCA since July 2018, has not been named to a role in the new company, although Tavares has said the two have been communicating daily as they work to hammer out the details of the merger.

    One sticking point has been obtaining competition clearance from the European Union. The EU has flagged market share in commercial vans as a possible violation of monopoly rules, but on Friday PSA submitted a plan to increase production of vans for Toyota as a possible remedy.

    The companies have also recently changed the terms of the combination agreement regarding payouts to shareholders. An initial 5.5 billion euro special dividend to FCA shareholders has been reduced to 2.9 billion in light of the financial impact of the coronavirus crisis. And PSA’s controlling stake in supplier Faurecia will be distributed on a 50-50 basis to PSA and FCA shareholders rather than 100 percent to PSA investors.

    RECOMMENDED FOR YOU
    Small SUVs widen lead over small cars; EVs increase share in key segments
    Recommended for You
    VW T-Roc during testing 2022
    Small SUVs widen lead over small cars; EVs increase share in key segments
    Renault Nissan logos 2023
    Renault, Nissan revamp opens up chase for new partners
    Britishvolt UK plant sketch
    Britishvolt battery startup set to be bought by Australia's Recharge
    Capgemini Invent Head on automotive takeaways from CES 2023
    Sponsored Content: Capgemini Invent Head on automotive takeaways from CES 2023
    Sign up for free newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Get Free Newsletters

    Sign up and get the best of Automotive News Europe delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    SUBSCRIBE TODAY

    Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business.

    SUBSCRIBE NOW
    Connect with Us
    • Twitter
    • Facebook
    • LinkedIn
    • Instagram

    Founded in 1996, Automotive News Europe is the preferred information source for decision-makers and opinion leaders operating in Europe.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI  48207-2997
    Tel: +1 877-812-1584

    Email Us

    ISSN 2643-6590 (print)
    ISSN 2643-6604 (online)

     

    Resources
    • About us
    • Contact Us
    • Advertise with us
    • Advertise with Us
    • Ad Choices Ad Choices
    • Sitemap
    Awards
    • Rising Stars
    • Eurostars
    • Leading Women
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Automotive News Europe
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • HOME
      • Latest news
      • Automakers
      • Suppliers
      • New Product
      • Environment/Emissions
      • Sales By Market
      • On The Move
      • Auto Shows
        • Munich Auto Show
        • Geneva Auto Show
        • Paris Auto Show
        • Beijing Auto Show
        • Shanghai Auto Show
    • Features
      • Long Read
      • Interview of the Month
      • Focus on Electrification
      • Focus on Technology
      • Segment Analysis
      • Cars & Concepts
      • Supplier Spotlight
      • Europe By The Numbers
    • Opinion
      • Blogs
      • Commentary
      • Guest columnists
    • Photos
      • Photo Galleries
      • Geneva Photo Gallery
      • Beijing Photo Gallery
      • Frankfurt Photo Gallery
      • Paris Photo Gallery
      • Shanghai Photo Gallery
    • Podcasts
    • Car Cutaways
    • EVENTS
      • ANE Congress
      • ANE Rising Stars
      • ANE Eurostars
    • More
      • Publishing Partners
        • Capgemini: Invent Head on automotive takeaways from CES 2023
        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • Capgemini: The circular economy is spurring new thinking on EV batteries
        • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
        • HEXAGON: Plugging into data is the only way to make winning EVs
        • TUV Rheinland: Ideas, services and certifications for smart mobility
        • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
        • Toyota Europe
        • UFI Filters
      • Social Media
        • Facebook
        • Instagram
        • LinkedIn
        • Twitter
      • Contact Us
      • Media Kit
      • About Us