The rumors originated from Italian newspaper Corriere della Sera following the resignation of Stellantis's CEO Carlos Tavares over reported disagreements with the board. The company spokesperson dismissed the speculation as "not true," labeling the reports as "fake news."
Stellantis’s Current Challenges
The CEO vacancy comes at a critical time for Stellantis, which faces significant hurdles:
- Sales Slump: A 14% drop in car sales for 2024.
- Profit Decline: Reportedly, profits were nearly halved compared to 2023, due to rising costs, outdated models, and quality issues.
- Leadership Disputes: Tavares reportedly left due to differing visions with the board amid these challenges.
Luca Maestri’s Career Path
Maestri stepped down as Apple’s CFO in October 2024, ending a successful tenure during which Apple achieved record financial results. Despite stepping back, Maestri remains at Apple in an advisory role, signaling no intention of departing the tech giant entirely.
Why the Rumors Spread
While the Stellantis rumors were baseless, they did trigger a rise in the company’s stock price. Speculation may have gained traction due to:
- Tech Industry Crossovers: Examples like Ferrari hiring a tech executive in 2021 suggest automakers are open to technology leaders.
- Boardroom Hopes: Investors and observers might see a leader like Maestri as a potential fix for Stellantis’s financial woes.
Market and Media Reaction
Despite Stellantis’s denial, the brief stock surge highlights investor optimism for new leadership. However, Stellantis’s spokesperson clarified there are no plans involving Maestri.
What’s Next?
Stellantis now needs to appoint a leader capable of addressing its operational and market challenges, including revamping product lines and improving cost efficiency. For now, Luca Maestri remains firmly rooted in his legacy at Apple, far from the automotive sector.
