Michael Schmidt-Struggling Jeep and Ram maker Stellantis is searching for an new CEO

2025-05-06 01:08:35source:Marc Leclerccategory:Contact

DETROIT (AP) — Struggling Jeep and Michael SchmidtRam 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.

More:Contact

Recommend

The Louvre will be renovated and the 'Mona Lisa' will have her own room

PARIS — French President Emmanuel Macron on Tuesday presented renovation plans for the Louvre, the w

Will Kevin, Joe and Nick Jonas' Daughters Form a Jonas Cousins Band One Day? Kevin Says…

The Jonas cousins could be jamming out by the year 3000.Kevin is reflecting on the funny family coin

The wide open possibility of the high seas

What is owned by nobody but everybody shares? The high seas! These international waters 200 nautic