logo
Stellantis Announces Leadership Reshuffle as New CEO Starts Work

Stellantis Announces Leadership Reshuffle as New CEO Starts Work

Jeep-parent Stellantis STLA -1.47%decrease; red down pointing triangle announced a leadership reshuffle Monday, the first moves by Chief Executive Antonio Filosa as he starts work in his new role.
Filosa, a 25-year company veteran, was named as the new head of the automaker last month following a six-month search, after former boss Carlos Tavares departed last December.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Irish Regulator Warns Against Caving to Pressure on Bank Rules
Irish Regulator Warns Against Caving to Pressure on Bank Rules

Bloomberg

time28 minutes ago

  • Bloomberg

Irish Regulator Warns Against Caving to Pressure on Bank Rules

Ireland's top banking supervisor warned of a need to stick with high standards of financial regulation particularly now when there is increasing pressure to ease them amid trade wars, geopolitical tensions and fears for global growth. 'If we're trying to chase growth with a deregulation engine I don't think that's going to end well for anybody,' Mary-Elizabeth McMunn, Deputy Governor for Financial Regulation at the Central Bank of Ireland, said at Bloomberg's Future of Finance event in Dublin. 'It also can't be that you simplify things just to such a degree that you really fail to capture complex risks.'

'Waiting for A Miracle' In Bordeaux. Demand Is Down And So Are Prices.
'Waiting for A Miracle' In Bordeaux. Demand Is Down And So Are Prices.

Forbes

time43 minutes ago

  • Forbes

'Waiting for A Miracle' In Bordeaux. Demand Is Down And So Are Prices.

SAINT EMILION, FRANCE - AUGUST 22: Replica of Bordeaux bottles are seen in a shop August 22, 2003 ... More in Saint Emilion outside Bordeaux. (Photo by Pascal)Winemaking in Bordeaux is never easy, even in the best of years, yet the region's promoters always seem to find a silver lining even in weak vintages. So the title 'Waiting for a Miracle' of a two-part survey by Wine Lister, a business consultant to the fine wine business, laced with phrases like 'crossing the Red Sea,' 'stormy weather,' 'a difficult situation' and 'turning point' comes as something of a shock at a time when the on-again-off-again Trump tariffs have added tremendous uncertainty to an industry based on grapevines that pay more attention to the weather than to international trade negotiations. Founder and CEO Ella Lister of industry consulting firm Wine Lister Compiled by Founder and CEO Ella Lister, Head of Clients and Marketing Tara Albini and Head of Analysyis Maggie Haan, Wine Lister does indicate that the 'murmurs of poor weather conditions and compromised fruit circulating nearly a year ago' were blunted by 'meticulous attention to detail in the vineyard and winery, coupled with unrivalled technology' that 'averted a disaster.' Declaring that 2024 was a very good year for dry whites and several reds, newly released wines are now more attractively priced, with discounts on the 2023 vintage in the UK down 20% to 30%, along with reduced volume ––this at a time of a worldwide wine glut. French wine and spirits global exports fell 4% last year and a 30% drop in sales volume is expected this year. At auction volumes also fell overall (38%). Quality scores for almost all 2024 Bordeaux dropped according to Wine Lister. Wine Lister's critics tasted en primeur Bordeaux over a nine-day period to find the wines to be 'restrained and vertical in nature, usually balanced, though sometimes austere,' with just 20 wines out of 134 recording an increase in scores. The top rated red wine was Château Latour with a score of 95.75 (out of 100), despite being down 1.5 points vs 2023. Among the top three risers are white wines, with La Mission Haut-Brion Blanc at the top. The silver lining in 2024 was low alcohol levels caused by cooler weather conditions, with wines often at around 13% ABV or lower, in contrast to growing levels of an increasing number of hot weather vintages. The wines of Saint-Émilion saw the steepest drop. 'Nonetheless, trade sentiment has been somewhat apathetic,' read the report, 'with consumers tightening their purse strings and choosing not to buy despite several wines sitting significantly below current market prices for back vintages.' The report also takes note that young people, pretty much worldwide, are 'largely disengaged,' a trend the industry is struggling to account for and reverse and it will take 'a concerted effort from all stakeholders––producers, the trade, and consumers alike–– to ensure Bordeaux retains its prestige and relevance in the modern fine Prices have dropped for the 2024 vintage. wine landscape.' Discounts are recommended across the board for the 2024 vintage up to 45% in Asia. Unanimously the industry knows that prices must drop in order to interest younger people to try wine in the first place, after boom years when the previous X generation (and part of the Y) boosted expectations that wine would increasingly be the drink of choice for decades to come. The result of that boost was that Bordeaux raised its prices, not just for the prestigious premier crus but for those below them. The consensus within the trade said that prices for the Asian market may have to be discounted 45%. BORDEAUX, FRANCE - SEPTEMBER 22: (NO UK Sales For 28 Days Post Create Date) King Charles III and ... More Queen Camilla do wine tasting during a visit Chateau Smith Haut Lafitte to learn about sustainable vineyard practices in the Bordeaux wine producing region. (Photo by Samir Hussein - Pool/WireImage) Merchants are recommending wine events that will draw in young people, though their numbers wouldn't really add up to much. Others suggest that wine tourism should be promoted, and that labels should be modernized, as German wine producers did a decade ago when they got rid of the old stylized Fraktur fonts better suited for a novel by Goethe. Interestingly enough, while Bordeaux sales languish, Burgundy's are up 16%, according to the Bourgogne Wine Board (BWB), with the U.S. share totaling 20.9 million bottles in 2024, an increase of 15.9% compared to 2023, representing 17.2% of Burgundy's revenue, with Chablis and Mâcon leading the pack. Silver linings aside, the report, which came out in April, does not treat of the Trump tariffs situation, which, after a threat of 200%, dictates a universal tariff of 10%, 20% on wines from France, Italy, Germany and Spain, and 30% on South African. The fall-out from those tariffs has yet to be fully felt. Winemakers have taken to saying their prayers in the vineyards.

The AI Hype Trap: Why Most CEOs Struggle To Unlock Real Business Value
The AI Hype Trap: Why Most CEOs Struggle To Unlock Real Business Value

Forbes

timean hour ago

  • Forbes

The AI Hype Trap: Why Most CEOs Struggle To Unlock Real Business Value

Diganta Sengupta is a seasoned technology leader with deep expertise in artificial intelligence, Gen AI, Cloud computing, and blockchain. While collaborating with clients on cutting-edge AI initiatives, I've had a front-row seat to the rapidly evolving landscape of generative AI (GenAI). There's no doubt that it's a transformative force, and the excitement is palpable. Leaders see GenAI as a powerful enabler of innovation, efficiency and even cultural change within their organizations. But beneath the surface of this enthusiasm, a more sobering reality has started to emerge. I observed leadership become enthusiastic about leveraging AI to unlock insights from massive operational datasets, but the reality quickly became evident. Despite deploying advanced models, the organization lacked the foundational elements for scalable impact. In other words, data was siloed, inconsistent and often not AI-ready. Teams were stretched thin across too many pilot projects without clear alignment to business workflows. Flashy prototypes drew attention but failed to deliver lasting value without reengineering the underlying processes. This mirrors a broader trend. Seventy percent of CEOs fear that flawed AI strategies could lead to their removal, while 54% fear that competitors may already have more advanced AI implementations. AI systems learn from historical data. If that data encodes human biases against certain demographics, regions or business units, the AI will reproduce and even amplify those biases. While developing a prototype using certain datasets for a utility company, for example, I grappled with significant challenges around bias and fairness. These issues persisted despite the presence of seemingly robust governance frameworks. As we trained our AI models on historical operational and customer data, I noticed embedded biases tied to region, demographics and internal processes. These biases not only surfaced in the model outputs but were, in some cases, amplified. My two cents: CEOs must invest in bias-detection tools, diverse development teams and transparency mechanisms long before deploying AI at scale. Without these guardrails, AI initiatives stall as risk-averse stakeholders balk at unverified "black-box" systems. In another project integrating a large language model (LLM)-powered chatbot with an enterprise ERP system, I encountered AI hallucinations as the model confidently generated inaccurate and misleading information about customer orders. Despite rigorous prompt engineering and system tuning, we noticed that the LLM occasionally fabricated responses about inventory levels or order status. This experience echoed findings from a 2024 Boston Consulting Group survey, which revealed that while 75% of executives ranked AI among their top priorities, only 25% reported realizing substantial benefits from their AI initiatives. Tackle hallucinations with robust validation pipelines, keep human-in-the-loop review for critical outputs and ongoing monitoring of model performance. This is where the challenge becomes even more complex. In many of my AI pilots in the oil and gas sector, I've repeatedly seen issues like inconsistent formats, missing metadata and a lack of standardized governance across departments severely impact model performance. Despite having large volumes of rich data, much of it couldn't be used without extensive manual cleanup. Efforts to unify data governance were often sidelined in favor of launching high-profile AI initiatives. A Harvard Business Review Analytic Services survey similarly found that most companies' data is largely not ready for enterprise-wide AI, citing poor data quality as a key barrier. Without strong cross-functional data stewardship and quality assurance, even the most advanced AI models fall short. Before spending on fancy models, CEOs must champion cross-functional data governance, setting up practices on creating common taxonomies, automated data-quality checks and centralized platforms. Only then can AI be relied upon to deliver accurate, actionable insights. Working on the previously mentioned utility AI project also brought light to another critical and often underestimated concern—security and governance challenges that surround enterprise AI deployments. As we integrated sensitive operational and customer data into AI workflows, it became clear how vulnerable these systems can become without rigorous controls. Inadequate access management, insufficient encryption and lack of monitoring can create openings for potential ransomware attacks and unauthorized data exposure. In one survey, 35% of respondents cited mistakes or errors with real-world consequences and 34% pointed to not achieving expected value as top barriers. Both are rooted in security vulnerabilities and governance shortcomings. CEOs must elevate AI risk management to the same level as financial or operational risk. This includes rigorous model-risk frameworks, data-privacy impact assessments and alignment with evolving regulations such as the EU's AI Act. To harness the full potential of AI, I recommend applying practical, accountable strategies that organizations can adopt to drive real, scalable impact. • Establish cross-functional data governance. Form a governance council with IT, compliance and operations to ensure data ownership, accountability and consistent standards. • Implement data quality controls. Deploy automated checks for outliers, schema validation and data freshness to improve input reliability and mitigate bias. • Address LLM hallucinations with RAG. Use retrieval-augmented generation (RAG), prompt chaining and fallback mechanisms to reduce hallucinations. • Align AI projects with business goals. Prioritize initiatives tied directly to key KPIs (for example, safety, cost reduction, etc.), which can improve adoption and leadership support. • Pivot away from noncritical use cases. Reallocate resources from low-impact projects to high-impact workflows like downtime alerts for field engineers. • Focus on responsible AI deployment. Emphasize transparency, accountability and strategic value delivery to build trust and ensure scalability. CEOs who view AI adoption as a multidimensional transformation rather than a plug-and-play technology will be the ones ready to move beyond the hype and truly harness the AI power. The future of competitive advantage lies not just in having AI, but in embedding it thoughtfully and responsibly into the fabric of the enterprise. This will help transform AI from a conceptual promise to a tangible asset and help drive innovation and growth for the organizations. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store