Stellantis CEO Carlos Tavares unexpectedly resigned, leaving the automotive giant facing challenges including declining US sales, high inventory levels, and potential trade war impacts from proposed tariffs. The company, maker of Jeep, Ram, and Chrysler vehicles, is searching for a new CEO, and maintains its 2024 guidance despite the leadership change.
Stellantis, the Italian automaker, is searching for a new CEO to replace Carlos Tavares, whose contract expires in 2026. This comes amidst a period of declining profits and criticism from both dealers and the UAW union. The company is facing challenges in North America, with shrinking market share and operational issues, leading to a significant drop in profits for the first half of 2024.
Stellantis CEO Carlos Tavares is heading to Detroit this week to address the company’s declining performance in North America. The automaker has seen a significant drop in profits and sales in the region, leading Tavares to personally oversee a strategic turnaround effort.
