The logo of Stellantis, the world’s fourth-largest automaker which starts trading in Milan and Paris after Fiat Chrysler and Peugeot maker PSA finalised their merger, is seen at the main entrance of FCA Mirafiori plant in Turin, Italy, January 18, 2021.
Massimo Pinca | Reuters
Stellantis on Wednesday said it has hired the chief financial officer from global grocery company Ahold Delhaize to replace CFO Richard Palmer, who plans to leave the company at the end of June.
Palmer will be succeeded by Natalie Knight, who has served as CFO at the Netherlands-based food retailer since early 2020. Ahold Delhaize owns grocery brands including Stop & Shop, Food Lion and Fresh Direct. Prior to that, she was CFO at Arla Foods and held several senior finance positions during her 17 years at Adidas AG. She is expected to join the company by July 10, Stellantis said.
The automaker did not release details regarding why Palmer, who served as CFO through two major global mergers, is leaving the company. The first merger saw the combination of Fiat and Chrysler in 2014. The resulting automaker then merged with French company PSA Groupe in 2021, forming Stellantis.
Palmer was a longtime top lieutenant of late automotive executive Sergio Marchionne.
Stellantis CEO Carlos Tavares said the company wishes Palmer “the very best for the future and in any new challenges that await him.” He also touted Knight’s “experience and demonstrated business transformation leadership, including a clear ESG focus,” as contributing to why the company chose her for the position.
“I’m convinced that she will play a strategic role in setting the new impetus and unleashing the great potential of Stellantis’ value,” Tavares said in a release.
Stellantis said Knight will be based at the company’s U.S. headquarters in Auburn Hills, Michigan, “with extensive travel to Europe and the other regions.”
Source: https://www.cnbc.com/2023/04/19/automaker-stellantis-hires-cfo-ex-adidas-grocery-executive.html