Stellantis CEO Carlos Tavares is set to step down after nearly four years at the helm, as announced following his visit to the Sochaux plant in eastern France for the launch of the new Peugeot e-3008 and e-5008 electric vehicles. His resignation, which takes effect immediately, was accepted by the Stellantis board on Sunday. This development shakes up the leadership of the world’s fourth-largest automaker, known for its Jeep and Ram brands, as it grapples with decreasing sales.
During his tenure, Tavares, who initially led PSA Peugeot, oversaw Stellantis’ formation through the merger with Fiat Chrysler Automobiles in January 2021. Despite North America being a crucial profit source, the company’s performance has faltered amid transformative challenges in the automotive market.
Stellantis emphasized that the search for Tavares’ permanent successor is “well under way.” In the interim, an executive committee headed by Chairman John Elkann will assume leadership. This transition comes at a pivotal time for Stellantis as it navigates the shift towards electrification and adapts to evolving industry landscapes.
Carlos Tavares’ departure marks a significant moment for Stellantis as it strategizes its next steps in maintaining its competitive edge in a rapidly changing market.
Original Story https://www.cnbc.com/2024/12/01/stellantis-ceo-carlos-tavares-resigns-as-carmaker-continues-to-struggle-with-slumping-sales.html
Category :
Tags:
