Set aside the controversy—the embattled auto executive is precisely what the struggling conglomerate needs at this moment.
In 1998, Chrysler became Daimler-Chrysler, then transformed into FCA, and now, for some reason, it’s known as Stellantis. Regardless of the name, the smallest member of Detroit’s Big Three always seems to be in search of a savior. For Stellantis, the peaks are sky-high, but the valleys plunge into the depths of the Challenger Deep.
Lee Iacocca turned it around. Sergio Marchionne did the same. But despite being a protégé of Carlos Ghosn, Carlos Tavares only deepened the challenges. Fortunately for Stellantis, the perfect successor might already be in plain sight—though he’s been known to hide in less obvious places, too.
On the night of December 29, 2019, Carlos Ghosn pulled off one of the most daring escapes in modern history. Smuggled out of Japan in an audio equipment box too large to be scanned by airport security, Ghosn fled house arrest after spending Christmas confined. The former leader of Nissan, Renault, and Mitsubishi stands accused by international courts of various financial crimes—allegations that remain under litigation.
Despite the controversy, Ghosn’s record as an automotive mastermind remains unparalleled. He has not been formally convicted of any crime and remains innocent until proven guilty. In a time of crisis, Ghosn may well be the ideal candidate to rescue Stellantis.
It’s easy to lose sight of Ghosn’s extraordinary achievements amidst the drama of his escape. His automotive journey began as an entry-level engineer at Michelin in 1978. By 1990, he was leading the company’s North American operations. Soon after, he joined the newly privatized Renault, where his leadership played a key role in its merger with Nissan. By 2001, he was Nissan’s CEO.
Under Ghosn’s guidance, Nissan rose from the brink of collapse. In 1999, the company was drowning in over $20 billion of debt and teetering on the edge of unprofitability. By 2002, the debt was erased. By 2003, Nissan boasted some of the highest profit margins in the industry, and by 2005, global sales had surged by more than a million units.
Ghosn’s vision extended well beyond financial recovery. The Nissan Leaf debuted two years before the Tesla Model S, a testament to his early understanding of electrification. In 2017, Nissan sold twice as many BEVs as Tesla, leaving automotive insiders wondering how much further the company could have advanced in the EV market had Ghosn remained at the helm.
For Stellantis, which finds itself in dire need of a transformative leader, Ghosn’s expertise could be the key to turning the tide.
After Carlos Ghosn’s departure, Nissan entered a downward spiral. With the exception of 2023, the company’s sales have declined every year since he stepped down as CEO in 2017. Even the modest gains of 2023 were insufficient to avert a desperate attempt to merge with Honda. This historic alliance between two previously independent Japanese automakers is not born of strategic vision—it’s a bid for Nissan’s survival.
While Ghosn is unlikely to return to a Japanese automaker, Stellantis appears to be a perfect match. Fluent in English, French, and Portuguese, Ghosn spent his tenure at Renault and Nissan crisscrossing the globe to tackle crises and seize opportunities—an area where Carlos Tavares notably fell short. His extensive knowledge of the North American, European, and Asian markets, particularly the latter, would be invaluable for Stellantis.
Ghosn is arguably one of the most visionary and successful global automotive leaders of the last two decades. However, appointing him as Stellantis’ leader would be no small feat.
A 2019 settlement with the SEC bars him from serving as a director of a public company until 2029. Additionally, he still faces financial crime accusations in other countries. At minimum, he would require a presidential pardon from Donald Trump—possibly sympathetic as a convicted felon himself—and would need to resolve ongoing lawsuits in France and Japan. Bringing Ghosn on board would undoubtedly rank as one of the boldest moves in automotive history.
Yet, in today’s volatile car industry, bold moves are exactly what’s required. Ghosn is the jolt of energy Stellantis needs. Forget the baggage—even if every accusation against him is true, he owes his accusers nothing more than financial reparations.
Carlos Ghosn deserves another shot, and Stellantis has the opportunity right in front of it.
