What you need to know about Stellantis when it debuts on the NYSE

Stellantis, the merged carmaker of Fiat Chrysler and France-based PSA Group, will begin trading Tuesday under the “STLA” symbol on the New York Stock Exchange.

The $ 52 billion merger ended on Saturday with the listing of the new company’s shares on Monday under the same symbol on the Euronext in Paris and the Italian Stock Exchange in Milan, Italy. U.S.-based stock trading was delayed by a day because U.S. markets were closed Monday for Martin Luther King Jr. holidays.

Stellantis is the fourth largest automaker in the world by volume. The company’s operations, including its 400,000 employees, will be largely in North America and Europe.

Here’s what you need to know about the company:

Actions

Following the completion of the merger, Groupe PSA shareholders received approximately 1.7 Stellantis shares for each PSA share, while Fiat Chrysler shareholders received one Stellantis share for each of its shares.

In a virtual launch on the Borsa Italiana website, Stellantis CEO Carlos Tavares, former CEO of Groupe PSA, said the merger would add 25 billion euros ($ 30.3 billion) to shareholders over the next few years. due to projected cost cuts.

“All of our employees and our management teams are fully focused on the value creation that is included in the FCA-PSA merger and the creation of Stellantis,” he said.

Reduction of expenses

The merger is expected to contribute about 5 billion euros, or 6.1 billion dollars, in annual cost savings, according to officials.

Stellantis

The company’s name is rooted in the Latin verb “stello” which means “to illuminate with stars,” the companies said.

The name Stellantis will be used for the umbrella corporation, but not for its vehicles. The company’s 14 individual car brands, including Alfa Romeo, Chrysler, Fiat, Jeep and Peugeot, all with historical significance in their respective countries, will remain unchanged.

board of directors

Stellantis ’board of directors consists of two executive directors, Tavares and former Fiat Chrysler chairman John Elkann.

The non-executive directors of companies are:

• Robert Peugeot, of the Peugeot family of the French car
• Henri de Castries, former general manager of the insurer Axa SA
• Andrea Agnelli, Elkann’s cousin and family member who controls Fiat Chrysler
• Fiona Clare Cicconi, head of human resources at AstraZeneca PLC
• Nicolas Dufourcq, CEO of the French investment bank Bpifrance SA
• Ann Frances Godbehere, director of Royal Dutch Shell PLC
• Wan Ling Martello, partner and co-founder of private equity firm BayPine
• Jacques de Saint-Exupéry, head of the workers’ council of PSA
• Kevin Scott, director of technology at Microsoft Corp.

– CNBC Elliot Smith has contributed to this report.