Stellantis on Wednesday stated it has employed the chief monetary officer from world grocery firm Ahold Delhaize to interchange CFO Richard Palmer, who plans to go away the corporate on the finish of June.

Palmer will likely be succeeded by Natalie Knight, who has served as CFO on the Netherlands-based meals retailer since early 2020. Ahold Delhaize owns grocery manufacturers together with Cease & Store, Meals Lion and Contemporary Direct. Previous to that, she was CFO at Arla Meals and held a number of senior finance positions throughout her 17 years at Adidas AG. She is anticipated to affix the corporate by July 10, Stellantis stated.

The automaker didn’t launch particulars relating to why Palmer, who served as CFO by way of two main world mergers, is leaving the corporate. The primary merger noticed the mixture of Fiat and Chrysler in 2014. The ensuing automaker then merged with French firm PSA Groupe in 2021, forming Stellantis.

Palmer was a longtime prime lieutenant of late automotive government Sergio Marchionne.

Stellantis CEO Carlos Tavares stated the corporate needs Palmer “the easiest for the long run and in any new challenges that await him.” He additionally touted Knight’s “expertise and demonstrated enterprise transformation management, together with a transparent ESG focus,” as contributing to why the corporate selected her for the place.

“I am satisfied that she is going to play a strategic position in setting the brand new impetus and unleashing the nice potential of Stellantis’ worth,” Tavares stated in a launch.

Stellantis stated Knight will likely be based mostly on the firm’s U.S. headquarters in Auburn Hills, Michigan, “with intensive journey to Europe and the opposite areas.”