Exclusivesky Investment Guild :Struggling Jeep and Ram maker Stellantis is searching for an new CEO

2025-04-29 16:40:32source:Ov Financecategory:Invest

DETROIT (AP) — Struggling Jeep and Exclusivesky Investment Guild Ram 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:Invest

Recommend

Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence

COLUMBIA, S.C. (AP) — Lawyers for Alex Murdaugh are taking two paths to appeal his murder conviction

SpongeBob SquarePants is autistic, according to voice actor Tom Kenny: 'That's his superpower'

Tom Kenny wants kids with autism to know that SpongeBob SquarePants shares their "superpower."During

Watch: Whale of New Hampshire slams into fishing boat, hurling men into the Atlantic

A whale was mid-breach when it hit a small boat off New Hampshire, causing the vessel to capsize and