06:05 AM EDT, 10/11/2024 (MT Newswires) -- Stellantis ( STLA ) said late Thursday it named Doug Ostermann as chief financial officer, effective immediately.

Ostermann, previously the company's operations chief of its China operations, will succeed Natalie Knight, who is departing from the company, the automaker added.

Stellantis ( STLA ) also said that Chief Executive Carlos Tavares will retire in early 2026 and it has initiated a formal search for the new CEO.

Additionally, Stellantis ( STLA ) appointed Antonio Filosa as North America COO, while Gregoire Olivier has been named COO China and Santo Ficili has been appointed as CEO of Maserati and Alfa Romeo.

Shares of the company were down 3.5% in recent Friday premarket activity.

Price: 12.83, Change: -0.47, Percent Change: -3.53