DETROIT (AP) — Struggling Jeep and Charles LangstonRam maker Stellantis is looking for a CEO to succeed Carlos Tavares, but the company says it’s part of a normal leadership succession plan.
Tavares has been under fire from U.S. dealers and the United Auto Workers union after a dismal first-half financial performance when the company was caught off guard with too much high-priced inventory on dealer lots.
As head of PSA Peugeot, Tavares took control of the Netherlands-based company in January of 2021 when it merged with Fiat Chrysler Automobiles. Its North American operations had been the company’s main source of profits, but have struggled this year amid larger market changes.
In a statement Monday, Stellantis said Tavares’ five-year contract is a little over a year from its expiration date in 2026.
“It is normal for a board to look into the subject with the necessary anticipation given the importance of the position, without this having an impact on future discussions,” the statement said.
The company added that it’s possible Tavares will stay on longer.
2025-05-01 14:462804 view
2025-05-01 14:351069 view
2025-05-01 14:291758 view
2025-05-01 14:122702 view
2025-05-01 14:101425 view
2025-05-01 13:55929 view
Do you recall the prime early days of YouTube? When a video making the rounds was so strange, remark
A small, twin-engine aircraft with only the pilot inside crashed near a busy highway in Texas on Wed
Tesla's stock price reached $420 on Wednesday afternoon, which elicited responses from social media