STORY: :: Stellantis
Stellantis shares fell on Monday after CEO Antonio Filosa, brought in to revamp the automaker, avoided a big shake up of the management team on his first day.
He also retained his previous role as head of the North American market.
Analysts suggested this could mean transforming Stellantis may not be his full-time job.
Down 2% by late morning, investors were underwhelmed by these limited changes.
Shares in Stellantis, which owns 14 brands including Jeep and Peugeot, have fallen 10% since Filosa's appointment was announced at the end of May.
Investors were disappointed that an insider was picked, as the company looks to focus on reviving profits in its major U.S. market.
But a source familiar with the matter said Filosa kept the North American post to do just that.
It's been at the core of Stellantis' recent problems.
He also wanted to continue to manage the impact of U.S. tariffs, the source added.
The global car sector is struggling with the chaotic trade war launched by U.S. President Trump.
Along with aggressive competition from China, especially in electric vehicles.
