Stellantis Names Joao Laranjo as New CFO Amidst Financial Loss and Production Halt
Stellantis has appointed Joao Laranjo as its new Chief Financial Officer, following a significant financial loss in the first half of 2025. The company, which lost $2.7 billion (€2.3 billion) during this period, will also temporarily halt production at two of its European plants later this year.
Laranjo, who holds an MBA from IBMEC in Brazil and is a graduate of the Advanced Finance Program at The Wharton School, succeeds Doug Ostermann. Ostermann resigned from the company for 'personal reasons'.
Laranjo's appointment comes at a critical time for Stellantis, which has been grappling with a decline in the US market and the impact of US import tariffs. The company's 2025 financial guidance remains unchanged despite the recent loss.
Laranjo began his career at General Electric in 2001 and later joined FCA, where he held various roles of increasing responsibility. In 2017, he was appointed Chief Financial Officer of Stellantis North America. Before rejoining Stellantis, Laranjo served as Vice President of Finance at Goodyear.
Stellantis' production pause at two European plants is a strategic move aimed at managing its current challenges. Meanwhile, Joao Laranjo's appointment as CFO signals a commitment to financial stability and strategic planning as the company navigates its current difficulties.
Read also:
- Industrial robots in China are being installed at a faster rate than in both the United States and the European Union, as the global market for these robots faces a downturn.
- Undeads Games Reaches $30 Million TVL and Gears Up for MMORPG Debut
- Hyundai N affirms transition to hybrid performance-centric models, initiating with Tucson N
- Bank of America reveals investigation into Zelle platform, hints at potential legal action
