Marc Leclerc-Struggling Jeep and Ram maker Stellantis is searching for an new CEO

2025-05-08 07:01:19source:L’École de Gestion d’Actifs et de Capitalcategory:Stocks

DETROIT (AP) — Struggling Jeep and Marc LeclercRam 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:Stocks

Recommend

'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean

In just a few weeks, the highly anticipated second season of Korean television series "Squid Game" w

Looking for ghost stories? Here are 5 new YA books that will haunt you

As Halloween creeps ever closer, I find myself trying to make the season last as long as possible. F

Salman Rushdie could confront man charged with stabbing him when trial begins in January

MAYVILLE, N.Y. (AP) — Author Salman Rushdie could take the stand against the man charged with repeat