DETROIT (AP) — Struggling Jeep and PhanincRam 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.
2025-05-07 03:341332 view
2025-05-07 03:28922 view
2025-05-07 03:23903 view
2025-05-07 02:592216 view
2025-05-07 02:12297 view
2025-05-07 02:11667 view
EAU CLAIRE, Wis. (AP) — Republican vice presidential nominee JD Vance said he had a “bit of fun” Wed
E! may get a commission if you purchase something through our links. Learn more.Get ready to experie
A streaking ball of light dazzled dozens of skygazers during the weekend as it whizzed and crumbled