Merger

Shareholders approve FCA-Groupe PSA merger; here's what's next

A new Stellantis company logo was revealed last year ahead of Groupe PSA-Fiat Chrysler merger.

Photo courtesy of FCA US LLC

The shareholders of Fiat Chrysler Automobiles N.V. (FCA) and Peugeot S.A. (Groupe PSA) have approved a merger of the two companies to create Stellantis N.V. (Stellantis). More than 99 percent of the votes cast were in favor of the transaction.

As part of the merger vote, shareholders of FCA also approved the adoption of the Stellantis' Articles of Association and appointment of the previously announced members of the Board of Directors of Stellantis.

Jeep Compass 4xe (European model) The Jeep Compass 4xe is available in overseas markets where PSA Groupe already sells cars. Photo courtesy of FCA

The Board of Directors was announced in October 2020 and includes various members of 11 members. FCA and its reference shareholder Exor nominated five members and Groupe PSA and two of its reference shareholders (EPF/FFP and BPIfrance). nominated five members.

The non-executive directors include Andrea Agnelli (board member of Fiat and Exor), Fiona Clare Cicconi (Google's new head of people operations), Nicolas Dufourcq (general manager of BPIfrance), Ann Frances Godbehere (Non-Executive Independent Director of Royal Dutch Shell Plc), Wan Ling Martello (former Executive Vice President of Nestle, also sits on Uber's board of directors), Jacques de Saint-Exupéry (longtime union insider in France) and Kevin Scott (Microsoft's chief technology officer).

John Elkann will serve as Chairman and Robert Peugeot will be Vice Chairman. Current FCA CEO Mike Manley will not serve on the board. He will instead head up the company's efforts in the Americas.

All appointments are effective on the date of the merger's completion.

What's next for Stellantis

The final regulatory clearances for the company were completed over the course of the last month, including those from the European Commission and the European Central Bank. With those in hand, the merger is expected to be completed on January 16, 2021.

Stellantis' common shares will begin trading on the Euronext in Paris and on Mercato Telematico Azionario in Milan on Monday, January 18, 2021, and on the New York Stock Exchange on Tuesday, January 19, 2021.

There is no official word on when vehicles by Groupe PSA's brands will make their way to U.S. markets. It's more likely that ahead of any brand emergence, there will be Groupe PSA vehicle components that make their way into traditionally FCA products. This includes electrification technology, which FCA's U.S. brands have only just started tapping into.

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The winner of the Charles Schwab Challenge earns this resto-modded Dodge Power Wagon.

Photo courtesy of the Charles Schwab Challenge

Newly crowned 2021 PGA Championship winner Phil Mickelson will be among a group of international golfers vying for the lowest score at the Charles Schawab Challenge PGA Tour event in Fort Worth, Texas this weekend.

The winner of the tournament will receive a 1946 Dodge Power Wagon that has undergone a complete resto-mod revision by Legacy Classic Trucks. This is the second vehicle the tournament has awarded to a winner with a 1973 Dodge Challenger awarded to Kevin Na in 2019. Na didn't keep the car for long. He turned it over to his car-obsessed caddy Kenny Harms.

The '46 Power Wagon is a nod to the roots of the tourney. This year marks the 75th anniversary of The Colonial, the original name for the event.

1946 Dodge Power Wagon Charles Schwab Legacy Classic Trucks The interior of the truck wears The Colonial's tartan.Photo courtesy of the Charles Schwab Challenge

Under its hood is a 6.2-liter Chevrolet LS3 engine that delivers 430 horsepower. The engine is paired with a four-speed automatic transmission and a custom Atlas transfer case. The rig rides on 40-inch Toyota tires and custom Trail Ready wheels.

Modern conveniences have been added like air conditioning, disc brakes, a long travel suspension, and a 12,000-pound Warn winch.

Because Charles Schwab is the sponsor of the tournament, Legacy Classic Trucks added some special 'Schwab' elements to the model including a Dove blue paint job and a custom 'SCHWAB' tailgate and brightwork. The interior of the truck is upholstered with a tartan fabric in the design of The Colonial's traditional plaid. A custom nameplate on the dashboard acknowledges Ben Hogan's 1946 win that started the legacy of the tournament.

Similar resto-modded trucks by Legacy Classic Trucks go for around $350,000.

1946 Dodge Power Wagon Charles Schwab Legacy Classic Trucks The rear of the truck features a custom tailgate.Photo courtesy of the Charles Schwab Challenge

Uniquely, the truck has inspired a song by up-and-coming country singer Travis Denning called "Grew Up with a Truck". The song debuted last week on Bobby Bones' podcast, "Bobbycast".

Other golfers joining Mickelson at the tournament include Lee Westwood, Jordan Speith, Si Woo Kim, and Sergio Garcia.

The first round of play kicks off on Thursday, May 27 with the second and third round on ensuing days leading up to the Final Round on Sunday, May 30. Tickets for the event are still available.

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Twelth-grader Vincent Piaskowski took top honors in the Stellantis competition.

Photo courtesy of Stellantis
Stellantis, formerly known in the U.S. as Fiat Chrysler Automobiles, has just wrapped its annual Drive for Design contest and has crowned three impressive winners. The contest gives high school students an opportunity to win prizes, meet influential member of Stellantis' vehicle design teams, and spend time at the College for Creative Studies.
  • First Place: Vincent Piaskowski, 12th grade from Michigan
  • Second Place: Rocco Morales, 10th grade from Michigan
  • Third Place: Alex Wang, 12th grade from California

Second place winner Tenth-grader Rocco Morales won second place.Photo courtesy of Stellantis

The winners submissions were impressive, but the prizes they won are pretty cool, too. First place took home a Wacom MobileStudio Pro 16, a Virtual Day of Design that includes a one-on-one portfolio review with Stellantis design leaders Ralph Gilles and Mark Trostle, and a scholarship for a four-week virtual summer program at the College for Creative Studies. Earning a second- or third-place price wasn't so bad, either. Those two got an Apple iPad Pro and Apple Pencil, a visit with Head of Ram Truck and Mopar Design, Mark Trostle, and the same four-week scholarship.

Before they could claim a prize, artists' submissions were scrutinized in four key areas, each evenly weighted in judging. Craftsmanship, design quality, illustration, and originality were all scored to find the winner. Looking at the top three entries, it's clear that the choice before the judges was a tough one.

Third place winner Twelth-grader Alex Wang took home third place.Photo courtesy of Stellantis

The winning submission was a concept called the Jeep Grand Teton. It's accompanied in the sketches by its own reconnaissance drone, and doesn't look all that far-fetched, as far as concept vehicles go. The second-place submission is called the Jeep Crazy Horse. It's quite a bit more "out there," and features a sliding battery unit to improve vehicle balance off road. Third place, while futuristic, looks to be a throwback to the vintage Jeep Forward Control pickups of decades past. Named the Adversary, the concept features solar cells, tent storage, and a unique cabover design.

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