Under Carlos Tavares's leadership, Stellantis had seen initial success during the pandemic, edging out competitors like General Motors and Ford. However, with a dramatic fall in consumer spending on higher-end models, the company’s sales took a hit. Tavares admitted to being ‘arrogant’ in his approach and acknowledged that a change was needed for 2024 to meet market demands, but the damage was already done.
The decision for Tavares's resignation reflects deeper tensions between him and Stellantis's board, particularly surrounding management decisions. Sales figures in the US plummeted by 36%, with European sales dropping by 177%, leading to increased frustration among stakeholders. Dealerships in America openly criticized Tavares's strategies, specifically his outdated vehicle lineup that hindered inventory efficiency.
With a new CEO expected to be appointed in early 2025, the future direction of Stellantis hangs in the balance. The interim executive committee will face the challenge of stabilizing the company amidst ongoing sales crises. The board is tasked with devising a strategic plan to enhance product offerings and compete effectively in a changing automaker landscape.
Stellantis, the world’s fourth-largest automaker, announced the resignation of its CEO, Carlos Tavares, amid mounting pressure from declining sales and profits. Tavares, who presided over a diverse portfolio including Fiat and Jeep, was expected to lead the company until early 2026. However, fundamental disagreements between him and the board regarding the management direction became increasingly unmanageable. Notably, Stellantis's sales plummeted this year, leading to a decline in share prices by nearly 40%. As a result, the board has initiated plans to appoint an interim executive committee, overseen by chairman John Elkann, until a new CEO is found by mid-2025. The crisis highlights challenges faced in adapting to market dynamics, particularly in the US and Europe, where sales dropped significantly.over invest in EVs. build over complicated, over engineered, poorly build, unreliable, overpriced cars and wonder why sales collapse.
Stellantis selling overpriced ice cars. What a shocker they are behind everyone on EVs too.
Recently finished a lease with them and they have taken 100€ from bank acc. No answer to query as to what its for. Vile company.
They should appoint me. I would save the company over night by ordering the abandonment of the electric rubbish and going back to what powered the company (companies) for nearly 100 years. Automakers allied with the people can bring down our stupid elitist governments.
well, you make overpriced junk, you go out of business,. Ford is next, $120,000 USD for a pick up truck, idiots,
