The chief financial officer of a global food retailer will replace Richard Palmer for the same role at the maker of Jeep SUVs, Ram pickup trucks and other vehicles, Stellantis NV said Wednesday.
Natalie Knight is the top financial controller at Koninklijke Ahold Delhaize NV, the Dutch parent of supermarket chains Food Lion, Giant and Hannaford. Effective July 10 at the latest, she will replace Palmer, who is set to leave Stellantis after 20 years with the company June 30 to ensure a smooth handover. Knight will be based in Auburn Hills with extensive travel to Europe and other regions.
Knight will assume her leadership role as Stellantis pursues a transformation toward a sustainable tech mobility company. In the coming years, it’s launching dozens of new electric vehicles as internal combustion engine sales fund much of those investments, and it’s spending billions of dollars to build battery plants and retool assembly facilities for EVs. Meanwhile, economic uncertainty from rising interest rates, inflation and other pressures are on the horizon as the automaker seeks to maintain a double-digit operating income margin and positive cash flow.
“With her experience and demonstrated business transformation leadership, including a clear (environmental, social and corporate governance) focus, she is exactly the right leader to continue accelerating Stellantis’ Dare Forward 2030 strategy,” Stellantis CEO Carlos Tavares said in a statement. “I’m convinced that she will play a strategic role in setting the new impetus and unleashing the great potential of Stellantis’ value.”
Knight joined Ahold Delhaize in early 2020 after working as the CFO of dairy maker Arla Foods in Denmark. Prior to that, she held several senior finance positions at athletic apparel company Adidas AG in Germany and the United States over her 17-year tenure there after investor relations roles at chemical producer BASF SE and commercial bank Bankgesellschaft Berlin.
Knight graduated from the University of Arizona in the United States and Freie Universität in Berlin. She followed that with executive leadership programs at the INSEAD business school in France and St. Gallen University in Switzerland.
Palmer held numerous chief financial roles since joining the Fiat Group in 2003 and was a member of Fiat Chrylser Automobiles NV’s board starting in 2019 before the automaker merged with French rival Groupe PSA to form Stellantis.
“Carrying over from Richard’s successful history with FCA, he has significantly contributed to the success of the merger to form Stellantis and to its integration over the past two years,” Tavares added. “We wish Richard the very best for the future and in any new challenges that await him.”
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