A Year of C-Suite Shuffles in 2024

In 2024, the automotive industry experienced several significant C-suite changes that influenced company strategies and market positions. Here are the five notable executive movements with outlooks for 2025.

Carlos Tavares was at odds with board and overwhelmed by managing 14 brands

Stellantis CEO Carlos Tavares Resigns: Carlos Tavares abruptly resigned Dec. 1 as CEO of Stellantis, the parent company of brands including Jeep, Ram and Chrysler, amid financial challenges and strategic disagreements.

Following the move, Stellantis’s management committee brought back a key executive, Tim Kuniskis, to run the vital Ram brand.

John Elkann, the chairman of Stellantis, is leading an interim executive committee to head the company until a new CEO is selected in the first half of 2025. Elkann is the heir to the Agnelli family, which founded Fiat, and is also the CEO of Exor, Stellantis' largest shareholder.

Two internal candidates are Antonio Filosa, CEO of the Jeep brand and COO for North America, who has experience in purchasing, manufacturing and business management; and Jean-Philippe Imparato, former brands chief at Peugeot and Alfa Romeo, who was promoted to COO of the Enlarged Europe region in October.

Polestar CEO Michael Lohscheller must figure out a way to build awareness and consideration for Polestar

Polestar Appoints New CEO: Swedish EV maker Polestar appointed Michael Lohscheller, former CEO of Opel and VinFast, as its new CEO effective Oct. 1, succeeding Thomas Ingenlath, to navigate the competitive battery-electric-vehicle market.

Polestar has excellent products but is a brand unknown to most BEV buyers in the U.S. The biggest challenge for Lohscheller is generating greater awareness, and that is not easy in a fragmented micro-media landscape.

Hyundai CEO Jose Munoz is first non-Korean to hold the post

Hyundai Promotes José Muñoz to Co-CEO: Hyundai Motor Company announced in November that Global COO José Muñoz would assume the role of global co-CEO starting Jan. 1, 2025, marking the first time a foreign executive holds such a high position in the South Korean conglomerate.

Munoz’s ascent inside Hyundai shows how valuable he is. He would be at the top of any car company’s list for a new CEO, but Hyundai seems to have locked him up for the foreseeable future.

Hallmark has the right experience to build global sales for the niche luxe brand

Aston Martin Appoints Adrian Hallmark as CEO: In March, Aston Martin named Adrian Hallmark, former CEO of Bentley, as its new chief executive to steer the luxury automaker through its next phase of development.

Aston is always going to be a niche brand on the margins of the industry, but Hallmark has a track record of keeping this small-volume brand relevant and enticing.

Toyota's Jack Hollis is heading up the big expansion of hybrids in the lineup

Toyota Motor North America Creates New Executive Roles: In May, Toyota Motor North America restructured its leadership by creating COO and CSO roles, appointing two executive vice presidents to these positions to drive growth and advance vehicle electrification efforts. Jack Hollis, as chief operating officer, oversees Sales, Marketing, Toyota Racing Development, Product Planning, Customer Service, Manufacturing, Product Support, and Demand and Supply. Chris Reynolds, as chief strategy officer, manages Strategy and Business Development, Human Resources, Information Technology, Connected Technologies, Legal, Social Innovation/Diversity & Inclusion, Sustainability & Regulatory Affairs, and R&D.

Both executives report directly to Tetsuo “Ted” Ogawa, CEO of TMNA.

Toyota looks very strong as far as its product lineup goes, with adequate BEV offerings for the current state of BEV adoption, and is well ahead of rivals in hybrids.