Dive Brief:

• European automaker Stellantis appointed General Electric and former company alum Joao Laranjo as CFO effective immediately, the company announced in a Monday press release. Laranjo, who previously served as CFO for Stellantis North America, will succeed Doug Ostermann, who resigned from the automaker “for personal reasons,” Stellantis said.
• Laranjo’s appointment represents the latest executive leadership shift by the Amsterdam-based automaker, which owns the Jeep, Fiat Chrysler and Alfa Romeo car brands among others. The shift comes after newly minted CEO Antonio Filosa announced several leadership changes after taking the top executive seat in June, according to a press release at the time. Among other shifts, the company appointed Scott Thiele to a new role as head of supply chain, appointed a new head of purchasing and added additional responsibilities to Ostermann’s role as CFO — giving him responsibility for mergers and acquisitions as well as joint ventures. In assuming the CFO role, Laranjo will take over all Ostermann’s existing responsibilities, the Jeep maker said Monday.
• “Having worked closely with Joao for 15 years and witnessed his rise through the ranks, I have consistently been impressed by his excellent financial acumen, results-driven mindset, and deep understanding of our industry’s complexities,” Filosa said in a statement included in the Monday release. “I am pleased to welcome him to the Stellantis Leadership Team as we continue to position our Company for future growth and long-term success.”

Dive Insight:

Laranjo most recently served as head of finance, Americas for The Goodyear Tire & Rubber Company, assuming the position in May 2024 after a seven-year term as CFO, North America for Stellantis, according to his LinkedIn profile. His previous roles include an eight-year tenure at Fiat Chrysler Automobiles, including a span as CFO, Latin America, and he began his career at General Electric.

His appointment represents the latest CFO swap by the automaker in two years, following the departure of long-time finance chief Richard Palmer — who served as Stellantis’ CFO for over two decades — in 2023, CFO Dive reported at the time. Palmer was succeeded by Ahold Delhaize veteran Natalie Knight, who stepped down in October 2024 when Ostermann assumed the seat. Palmer has remained at Stellantis as a strategic advisor, the company said as part of its June leadership changes.

Laranjo is stepping into the CFO chair as Stellanis looks to emerge from what then-CFO Ostermann called a “tough period” during its earnings call for the first half of 2025. For its H1 of 2025 ended June 30, Stellantis reported net revenue of 74.3 billion euros, a 13% decline from the prior year period driven primarily by slumps in North America and Europe, according to its earnings report released July 29. The company also reported a net loss of 2.3 billion euros, compared to net profit of 5.6 billion euros for H1 of 2024.

Slumping shipments and net revenue for its North America segment were primarily due to shifting tariff policies — which have cost the company approximately 330 million euros to date, Ostermann said. Stellantis is expecting the full-year cost of tariffs to hit “the upper end” of a range between 1 billion and 1.5 billion euros, he said.

“The tariff dynamic, as you know, continues to evolve,” Ostermann said. “We're, of course, engaged in discussions with various policymakers, and we'll continue to provide updates as things evolve over time.”

The Trump administration implemented a 25% tariff on autos and auto parts imported to the U.S. beginning in April, and increased a tariff on steel and aluminum from 25% to 50% in June. As well as Stellantis, fellow automakers including Ford and General Motors have reported impacts from tariff and trade policies, with Ford reporting $800 million in associated expenses and recording its first quarterly loss since 2023 for its most recent quarter, The Wall Street Journal reported.  

Despite high costs, however, new vehicle sales in the U.S. are expected to “show a resilient market that continues to shake off significant policy changes and economic uncertainty,” Cox Automotive said in a Thursday press release. September’s sale volume is expected to rise 6% year-over-year, Cox Automotive said, while the month’s seasonally adjusted selling rate is set to hit 16.2 million by the end of the month compared to last year’s 15.8 level.

The pace of U.S. new vehicle sales has been “surprisingly strong” in the third quarter due to waning uncertainty surrounding tariffs, Cox Automotive Senior Economist Charles Chesbrough said in a statement. Another key factor has been the rise in electric vehicle sales, as “buyers rush to market before the $7,500 tax credits expire at the end of September,” he said.  

Stellantis declined to comment beyond its press release.