Fiat Chrysler Automobiles N.V. (“FCA”) and Peugeot S.A. (“Groupe PSA”) announce the composition of the Board of Directors of Stellantis, the new company that will result from the combination of their respective businesses.
Consistent with the terms of their Combination Agreement, announced on December 18, 2019, the Board of Directors of Stellantis will be comprised of 11 members, the majority of the non-executive directors being independent. The independent board members are drawn from diverse professional backgrounds and will bring with them significant relevant perspectives and experience, in line with the dynamic and innovative spirit that characterizes the creation of this new enterprise.They will help Stellantis capitalize fully on its unique strengths and capabilities, in a new era of mobility, with the purpose of creating superior value for all of its stakeholders.
FCA and its reference shareholder Exor have nominated 5 members (including John Elkann as Chairman) and Groupe PSA and two of its reference shareholders (EPF/FFP and BPIfrance) have nominated 5 members (including the Senior Independant Director and the Vice Chairman). Carlos Tavares, Stellantis’ Chief Executive Officer, will also be a member of the Board of Directors.
The full composition of the Stellantis Board of Directors will be as follows, subject to shareholder vote:
John Elkann (Chairman),
Robert Peugeot (Vice Chairman)
Henri de Castries (Senior Independent Director)
Andrea Agnelli (Non-Executive Director)
Fiona Clare Cicconi (Non-Executive Director)
Nicolas Dufourcq, (Non-Executive Director)
Ann Frances Godbehere, (Non-Executive Director)
Wan Ling Martello (Non-Executive Director)
Jacques de Saint-Exupéry, (Non-Executive Director)
Kevin Scott (Non-Executive Director),
Carlos Tavares (Chief Executive Officer)
Completion of the proposed combination is expected to take place by the end of the first quarter of 2021, subject to the previously agreed conditions to closing in the Combination Agreement.
SOURCE: Groupe PSA
