New Stellantis CEO Filosa Could Take Home $23 Million a Year – If He Can Pull Off a Turnaround

Anthony Filosa, the new CEO of Stellantis, won’t officially begin his new role until the end of this month but, despite all the challenges he will face, he’s already got something to look forward to. The Italian-born executive will get a lucrative contract with an escalating pay scale that would allow him to take home as much as $23 million a year in pay and bonuses by 2028. That’s if he can deliver the much-needed turnaround for the struggling Euro-American automaker. Headlight.News has more.

Now engaged in a whirlwind, worldwide tour, Anthony Filosa will formally transition into his new role as the CEO of Stellantis at the end of the month, the automaker finally having filled the chief executive spot after its former boss, Carlos Tavares unexpectedly resigned last December.

Filosa will face plenty of unfinished business Tavares left behind. The Euro-American automaker has suffered from declining sales and earnings and could see even more challenges going forward as Chinese automakers charge into key markets like Europe and Latin America.

The rewards could be substantial if the 51-year-old executive can deliver. Internal documents first published by Reuters show that Filosa could earn as much as $23 million a year by 2028, though that remuneration, the news service noted, is actually less than what Tavares was earning under his five-year contract.

Who is Anthony Filosa

Filosa has spent 25 years in the auto industry and has rapidly risen up the ranks since joining Stellantis’ predecessor, the French-based Groupe PSA.

That includes a stint running Latin American operations before being summoned to Detroit to take over the struggling Jeep brand in November 2023. The native of Naples, Italy made some quick strategic moves, among other things putting the “Jeep” badge back on the new Wagoneer family of SUVs. The off-road manufacturer tried to position those products as a separate sub-brand but wound up confusing buyers. Filosa also rejiggered Jeep pricing which many felt had pushed buyers away.

Last October, Filosa was promoted to chief operating officer of North America and repeated a number of moves – including price realignment – across the automaker’s portfolio. In December the executive added the rest of the Americas to his portfolio.

The problems…

As the new global CEO, Filosa has plenty of challenges to look forward to:

• Weak sales and earnings, especially at Ram and Jeep, which Abuelsamid describes as “the cash cows that have kept the company going.” But several recent products – such as the new Jeep Wagoneer and next-generation Ram 1500, have generated lackluster sales;
• Filosa will need to refocus where Stellantis is spending its limited capital. Like some competitors, it may wind up pulling back on EV and connected vehicles programs;
• Initially, Tavares chose to retain all 14 brands brought by FCA and PSA. But early last year he suggested “We cannot afford to have brands that do not make money.” It may now be up to Filosa to rethink whether weaker marques, such as Chrysler, Lancia and Fiat, will be axed.

Complicating matters, Stellantis is more vulnerable to the new Trump auto import tariffs than key rivals Ford and General Motors. It imports brands such as Alfa-Romeo, Fiat and Maserati.

Even the automaker’s “Detroit” brands are exposed considering the number of products assembled outside the U.S. For Dodge, only the midsize Durango SUV is produced domestically. The Charger muscle car is assembled in Canada, the Hornet crossover shipped in from Italy. Meanwhile, U.S.-made Stellantis products are, on the whole, more reliant on imported parts and components than many competing vehicles.

More Stellantis News

• Filosa Named New Stellantis CEO
• Carlos Tavares’ Resignation Left Stellantis Rudderless
• Stellantis Tells Employees: Quit Your Job, Get a Check

…And the payoff

As he slips into the new role, Filosa’s base pay will jump to $1.8 million during the first year, according to a corporate document that will formally be presented during a July 18 extraordinary general meeting, reported Reuters. That compares with the $2.3 million Tavares got.

Filosa also stands to gain annual bonuses of as much as 400% of his base pay. They will be performance-driven, linked to the financial results and other objectives laid out by the automaker pending the approval of its board of directors.

There also will be long-term incentives in the form of share grants, also linked to how well Stellantis performs under his leadership. These will start at 500% of his salary this year, with the figure climbing to 780% in 2027. Add an annual cash award of $1.2 million and the eventual payoff could top out at $23 million a year.

To add perspective, Mary Barra, the chairman and CEO of General Motors, pocketed $29.5 million last year. Of that, $19.5 million came from stock awards – which rose 33% compared to 2023.