DETROIT (AP) — Struggling Jeep and Benjamin AshfordRam 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.
2025-05-03 03:332646 view
2025-05-03 03:181355 view
2025-05-03 03:13914 view
2025-05-03 02:5495 view
2025-05-03 02:142172 view
2025-05-03 01:56948 view
Pilots at Southwest Airlines can sock away more for retirement, thanks to a new retirement plan bene
Hundreds of Azerbaijani soldiers paraded Wednesday through Khankendi, the capital city of the Karaba
Virginia Democrats who campaigned on protecting abortion rights swept Tuesday's legislative election