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Rivian Automotive (NASDAQ:RIVN) executive Tim Fallon has joined European automaker Stellantis NV (NYSE:STLA) as the head of manufacturing in North America.
What Happened: At Stellantis, Fallon will lead North American manufacturing, including electric vehicles, effective Sept. 2, the company said. Fallon replaces Mike Resha who will now assume global responsibility for Injection and Stamping Operations.
Fallon was Vice President of Manufacturing Operations at California-based EV maker Rivian. It is not clear if he has already resigned.
Rivian CEO RJ Scaringe told the company in a mail seen by Benzinga that Carlo Materazzo, VP of Supply Chain and Logistics, will step in top lead manufacturing in the interim and report to Javier Varela.
Why It Matters: Prior to joining Rivian in early 2022, Fallon spent about 16 years at Japanese automaker Nissan, according to his LinkedIn profile. At Nissan, Fallon held several key positions, including Vice President of Manufacturing at the Canton Vehicle Assembly plant.
Fallon’s appointment at Stellantis comes on the heels of the company reporting a 48% fall in net profit to €5.6 billion ($6.22 billion) for the first half of 2024 and a 14% fall in net revenue to €85 billion, owing to a dip in market share in North America.
During the company’s earnings call last month, Stellantis CEO Carlos Tavares said that the company has “significant work to do, especially in North America.”
This comes amid reports that Tavares is slated to visit Detroit this week to devise a strategy to revitalize its struggling North American operations.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
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Photo courtesy: Stellantis
