Stellantis (STLA) names new North America COO

Stellantis (NYSE: STLA) has announced the appointment of Carlos Zarlenga as the new Chief Operating Officer for North America, succeeding Mark Stewart. The carmaker aims to capitalize on "further improvements" in regional performance with this change. The effective date for the new appointment is set for February 1st.

"In the very demanding North American market with many obstacles to overcome in order to foster the performance of the company, Carlos Zarlenga is the best leader among our talent pool to replace Mark Stewart and to drive the change in our business model towards electrification in the region," Tavares said in the statement.

While Stewart departs from the automaker, Stellantis has not provided additional details regarding his future plans or the specific reasons behind the leadership change. Stewart served as the Chief Operating Officer for North America for three years, a role he assumed following the merger of Fiat Chrysler and PSA to form Stellantis.

Group CEO Carlos Tavares expressed gratitude to Mark Stewart in a statement, extending best wishes for his future endeavors in his new position.

Shares of STLA are down 2.78% in mid-day trading on Tuesday.

By Michael Elkins | [email protected]

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