The massive merger between Fiat Chrysler Automobiles and French Groupe PSA overcame one of their final regulatory hurdles in late December, and the final transaction is scheduled to take place tomorrow, January 4, 2020. Frank B. Rhodes, Jr., great-grandson of Walter P. Chrysler, you don’t have your word.
On December 24, 2020, Rhodes filed a last-minute complaint, suggesting some changes to the merger plan. And by the way, he’s not happy with, well, anything.
“This alternative proposal is, in my opinion, superior to the planned merger and would result in the return of the Chrysler-Dodge-Jeep-Ram brands to the United States and away from the Chinese and the proposed foreign control, as proposed in the Merger,” Rhodes said in a Press release.
One of Rhodes’ main complaints is with the name Stellantis, which is the title that the merged group will adopt. Instead, he wants it to be called ‘Chrysler-Dodge-Jeep-Ram Corporation ‘- which definitely does not take into account the purpose of the merger.
In addition, Rhodes proposed that Stellantis maintain its European headquarters in London, but transfer its main functions to the United States. This would allow management and existing employees to continue. He really don’t want this America brand to become something more global.
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He filed a complaint with both the Stellantis manager and the United States senators to remind them that this is not going to be good for America.
At this point in the venture, we are not likely to see any massive revisions to the proposed merger – especially those that threaten the integrity of both brands.