Carmaker Stellantis loses former FCA CEO Manley

MILAN (AP) — PSA Peugeot’s takeover of Fiat Chrysler to form the world’s fourth-largest carmaker has had its first executive casualty, with former Fiat Chrysler CEO Mike Manley stepping down as his role of head of the Americas.

Stellantis announced Tuesday that Manley, 57, was leaving to become CEO of AutoNation, the largest dealership network in the U.S., starting Nov. 1. Manley will not be replaced. North America Chief Operating Officer Mark Stewart and Antonio Filosa, COO of Lat America, will report directly to Stellantis CEO Carlos Tavares.

Manley was named CEO of Fiat Chrysler in July 2018, coinciding with the illness and sudden death of longtime CEO Sergio Marchionne. When Stellantis was formed, Tavares, who was Peugeot’s chief executive, took over as CEO of the combined carmaker.

Manley was credited with the turnaround of the Jeep subsidiary, which was a mainstay of FCA profits, and also was the longtime head of Fiat Chrysler’s Asia operations. Manley is well-respected in the analyst community, lauded for his strong credentials to run a global automaker both in terms of technological and strategic transitions.

Manley is taking over a dealership group that posted more than $20 billion in sales and $382 million in net income last year. He replaces Mike Jackson, an industry icon who has been with AutoNation for 22 years. Jackson retired in 2018, but was called out of retirement when his replacement left the company.

Auto Nation, based in Florida, is the largest chain of car and truck dealerships in the U.S., with more than 300 locations nationwide. The company says it has sold more than 13 million vehicles.

Guidehouse Research Principal Analyst Sam Abuelsamid said it’s likely that Manley began looking for another chief executive job after getting passed over as...