"I don't consider this moment a point of arrival, it is rather a starting point".
So John Elkann, president and CEO of Exor, comments on the birth of Stellantis in an interview with Le Figaro.
Speaking of the challenges facing the group with its 14 brands, Elkann observes: "Size is a strength, not a weakness. Psa has perfectly managed to integrate Opel. Ditto for Fiat and Chrysler. We know how to make people live together. members of the same family, very different personalities ".
Bertille Bayart's interview is published in Figaro (page 20), on newsstands today.
The title is "John Elkann, the lucky star of the Agnelli empire. The young president of Stellantis is an ardent defender of family capitalism. He confides in Figaro his ambition for the group he heads".
Speaking of his fame in France, Elkann explains: "I think you have to know how to be upright and firm. You have to be clear on the basis on which you are ready to make a commitment. Not doing is also a decision, and sometimes it is the good one" .
The president of Exor stresses the role of family capitalism ("families perform better") and denies that the Agnellis are more financial than industrial investors.
"That's not true. We have invested in Fiat, in products and in factories. We have created the entire supply chain that made it possible to launch the electric Fiat 500. We have made Jeep a worldwide success. We have launched super-performing Alfa Romeo products such as Giulia and Stelvio. In the midst of the pandemic, we launched the first Maserati whose engine is derived from our experience in Formula 1 ", he says.
"Strong character is part of the keys to success. As in the past, I will be a president who has the great fortune of being able to work alongside a very competent leader and with whom I share the same ambition, the same vision and the spirit of pioneers we need to write a new chapter in the history of the automobile that promises to be exciting ".
"At Exor we never talk about investments, but about companies. What is important is the company, not our share weight. Dilution does not mean disengagement: sometimes it is the condition for the company to develop. We assume this. choice of entrepreneurs ".
Exor is the largest shareholder of the new group with 14.4%, while in FCA it had 28.5%.
Minister Le Maire?
"He supported a lot, together with his Italian counterpart, the birth of Stellantis, he makes the decisions he deems right".
"We will continue to invest, through targeted acquisitions and within the development of the multi-platform model. I believe in written journalism - says Elkann - a universe in full transformation. Gedi is a group that owns strong publications (La Repubblica, La Stampa), it holds 20% of the traditional market and 2/3 of the digital information market. It is well positioned in the phenomenon of consolidation affecting local markets. "The Economist - Elkann points out - is part of those English-language journalistic organizations that they have access to a world market and which, on the model of what the NYT has managed to do, have the possibility of developing a lot, finding readers willing to pay for information on a growing number of platforms ".
