Why the new FCA-PSA board merits a closer look

Three women highlight a new board with global execu ve talent

The fi rst thing no ceable about the new board that will preside over the combina on of Italy’s Fiat Chrysler Automobiles and France’s PSA Group is the dis nctly global, non-automo ve profi le of the new independent directors.

Which makes sense because the nonsensical name of this combined company — Stellan s — off ers zero iden ty with anything automo ve.

But there’s reason to believe this could be a good thing as the auto industry desperately tries to reinvent itself amid the existen al threats emerging from massive changes in autonomous technology, electrifi ca on and global poli cal upheavals.

The key FCA and PSA insiders and family leaders, of course, remain on the board: Chairman John Elkann, Vice Chairman Robert Peugeot, non-execu ve director Andrea Agnelli and CEO Carlos Tavares. As expected, current FCA CEO Michael Manley will not join the new board, and there’s been no announcement about his future role with Spaceship Stellan s.

Otherwise, it’s abundantly clear that the new directors refl ect a company that no longer wants to be linked by name to its automo ve legacy underscored by iconic brands such as Peugeot, Fiat, Chrysler, Jeep, Ram, etc.

Continued from Page 4 First of all, the new board lacks anyone directly involved in current FCA opera ons in North America. There aren’t any CEOs from auto suppliers or dealers, which is the norm for directors deemed to be “independent.” There is nobody affi liated with North American unions. There is no African American director, yet there s ll is plenty of diversity.

Naturally, much of the new board refl ects French and Italian backgrounds, but not en rely. And give the architects of this new board some credit for the highly qualifi ed global execu ve talent they a racted:

U.S. execu ve Kevin Sco , Microso Corp.’s chief technology offi cer since 2017, whose “20-year career in technology spans both academia and industry as researcher, engineer and leader,” a company statement said. He also served notable s nts at LinkedIn and Google and has laudable nonprofi t accomplishments.

Canadian Ann Frances Godbehere is one of three women slated for the new board. She brings deep experience from the global insurance, banking and accoun ng worlds. Her past es to Swiss banking giant UBS and metals giant Rio Tinto make her resume reminiscent of that of late FCA CEO Sergio Marchionne, who also was a na ve Canadian.

European pharmaceu cal execu ve Fiona Clare Cicconi will be an employee representa ve on the full board. She has been head of human resources at AstraZeneca PLC since 2014.

Philippines na ve Wan Ling Martello, one of the world’s most powerful women according to Fortune, brings creden als from the private equity world and is the former CFO of Nestle. She previously held senior execu ve roles at Walmart Stores Inc. and holds board posi ons at Chinese computer giant Alibaba Group and ridehailing pioneer Uber Technologies Inc.

Henri de Castries and Nicolas Dufourcq hold a long list of tles in the European business world. Long me PSA insider Jacques de Saint-Exupéry represents French union interests.

All in all, the new FCA/PSA board off ers new blue-ribbon blood for this combined global automaker. The talent pool at the top of Stellan s will be well stocked as strategic challenges arise.

“You’ll have noted that the board is made up of 11 outstanding individuals of diverse backgrounds and accomplishments — including from North America and with extensive U.S. and global business experience,” FCA spokeswoman Shawn Morgan said in an emailed statement to Automo ve News.

S ll, some voids remain. Perhaps the addi on of North American and other regional boards would help.

When asked about the possibility of regional boards, Morgan replied:

“As we’ve confi rmed, the transac on is expected to close by the end of the fi rst quarter 2021 by which me further details of the company and its structures will be shared.”

Source: www.automo venews.com – Ar cle by PHILIP NUSSEL