DETROIT (AP) — Struggling Jeep and Evander EllisRam 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.
2025-05-05 12:161676 view
2025-05-05 11:042190 view
2025-05-05 10:56581 view
2025-05-05 10:442456 view
2025-05-05 10:11931 view
2025-05-05 09:381056 view
SANTA FE, N.M. (AP) — New Mexico would make major new investments in early childhood education, indu
OLYMPIA, Wash. (AP) — Washington Gov. Jay Inslee on Thursday rejected a recommendation to cut a prop
RALEIGH, N.C. (AP) — In his first veto of the 2024 legislative session, Democratic North Carolina Go