Automaker Stellantis taps Adidas alum to replace longtime CFO

Dive Brief:

Amsterdam-based automaker giant Stellantis NV, which produces Jeep, Maserati and Chrysler brands among others, has tapped Natalie Knight of global grocery retailer Ahold Delhaize to replace Richard Palmer, who has held the role for 20 years, the company announced Wednesday.
The company did not disclose details as to why Palmer — a longtime top lieutenant of late automotive executive Sergio Marchionne — is moving on from his post as CFO.
Incoming CFO Knight announced her departure from Netherland-based Ahold Delhaize, which owns grocery brands including Stop & Shop, Food Lion and Fresh Direct, back in January to “pursue a job in the U.S.,” CFO Dive sister publication Grocery Dive previously reported.

Dive Insight:

Knight joined Ahold Delhaize in 2020 and before that, was CFO at Arla Foods in Denmark and held several senior finance positions during her 17 years at Adidas AG in Germany and the U.S., according to her LinkedIn profile. She is expected to join Stellantis by mid-July, the company said in the statement.

In addition to her duties as CFO, Knight is also set to become executive vice president of Stellantis. Additionally, she will be based in the company’s Auburn Hills, Mich. office, with extensive travel to Europe and the other regions, according to the statement.

The company recently announced a plan known as “Dare Forward 2030,” which is focused around a goal of doubling its net revenues by 2030, compared to 2021.

The announced plan also includes goals of halving Stellantis’ carbon footprint by 2030, achieving greater than 25% of its revenue from outside Europe and North America and a “digital revolution” involving artificial intelligence and autonomous driving.

“With her experience and demonstrated business transformation leadership, including a clear ESG focus, she is exactly the right leader to continue accelerating Stellantis’ Dare Forward 2030 strategy,” Stellantis CEO Carlos Tavares said in a statement.

Outgoing CFO Palmer had seen the company through two successful mergers — the first of which being the combination of Fiat and Chrysler in 2014 — and the second which saw the resulting automaker merge with French company PSA Groupe in 2021, forming Stellantis.