Stellantis proposes new American directors for European-centric board

Posted by Admin March 3, 2025 Bussiness

Stellantis NV on Monday nominated two Americans, Alice Schroeder and Daniel Ramot, to join its board that currently includes a large membership of European business leaders.

The transatlantic automaker also proposed reelecting five other directors, as the terms of seven members of the 11-seat board come to an end.

The directors will serve two-year terms if approved at an April 15 shareholders meeting in Amsterdam.

Schroeder is a former Morgan Stanley managing director who sits on several boards, including HSBC North America, and was once Warren Buffett’s biographer. Ramot is an Israeli-American entrepreneur and scientist who leads Via — a public transportation and software company that has ties to Stellantis Chairman John Elkann and his family’s investment company, Exor NV.

The two new board members would take the place of Wan Ling Martello, a Filipino-American, and Jacques Saint-Exupéry of France.

The board’s membership, currently mostly made up of French and Italian nationals, would shift more toward North America — where the company has struggled recently and is seeking a major turnaround this year — with the new director additions.

“The board believes that Schroeder’s deep expertise in financial oversight and strategic leadership, combined with Ramot’s extensive experience in technology, research, and innovation, will provide highly valuable insights and strengthen the leadership of Stellantis,” the company said in a statement.

Stellantis’ board led by Elkann presently lists 10 members after the December departure of CEO Carlos Tavares. The company continues to search for a CEO replacement and hopes to rebound this year this year after falling sales and profits in 2024.

lramseth@detroitnews.com

@lramseth