Stock

Stellantis CEO Tavares resigns amid lagging US sales

Published

Investing.com– Stellantis NV (NYSE:STLA) said on Sunday that CEO Carlos Tavares will step down effective immediately, and that his replacement will be appointed within the first half of 2024. 

Tavares’ resignation comes as the automaking giant grapples with lagging sales, especially of its Jeep and Ram sales in North America. A slew of reports in recent months had suggested that the automaker was seeking new leadership.

Tavares had also faced criticism after Stellantis issued a profit warning for 2024, amid heightened expenses and high inventories in North America. 

“In recent weeks different views have emerged which have resulted in the Board and the CEO coming to today’s decision,” Senior Independent (LON:IOG) Director Henri de Castries said in a press release. 

Stellantis reiterated its profit warning, and said that a new interim executive committee, headed by Chair John Elkann, will handle Tavares’ responsibilities until his replacement is found. 

This post appeared first on investing.com

In this article:

You May Also Like

Editor's Pick

Could Trump undermine the vote again? Harris’s legal team says it’s not worried.

Former president Donald Trump and his allies have filed hundreds of lawsuits, with more to come, seeking to tighten voting rules or disqualify voters....

October 21, 2024

Economy

BoE’s Greene sticks to view that rate cuts should be gradual

LONDON (Reuters) – Bank of England interest rate-setter Megan Greene said she still believed the central bank should take a cautious approach to cutting...

October 21, 2024

Editor's Pick

A GOP operative accused a monastery of voter fraud. Nuns fought back.

Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

October 24, 2024

Latest News

Warner Bros. Discovery adds 7.2 million Max subscribers, the streamer’s largest single-quarter jump

Warner Bros. Discovery said Thursday its streaming platform Max added 7.2 million global subscribers in the third quarter. It marked the biggest quarterly growth for...

November 9, 2024

Disclaimer: beneficialinvestmentnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 beneficialinvestmentnow.com

Exit mobile version