Stellantis CEO announces his retirement following a mysterious number of leadership changes at the company
Stellantis has had a difficult year when it comes to getting people interested in its cars. Sadly, not only have vehicle sales been low, but there have also been a number of car recalls. Naturally, many people blame the current CEO, Carlos Tavares. Now, he has announced his retirement plans and the struggling company is moving forward with finding new leadership. This comes as several top-level executives have already exited Stellantis.
There may be hope for Stellantis and its mounting inventory of cars
Stellantis and its cars have been heavily scrutinized for their low sales. The same is true for the various car recalls that question the long-term reliability of the automotive giant’s options. However, the current CEO, Carlos Tavares, has also been heavily criticized. Of course, much of the negative discussion surrounds the recent layoffs.
Now, there may be hope for Stellantis and its cars, at least for people who believe Carlos has led the company in the wrong direction. According to Reuters, the car company announced on October 10th that Carlos would be retiring in 2026. Of course, this is also when his contract happens to be up. Previously, he’d stated that he was contemplating extending his time with the company beyond the current parameters of his agreement.
Who will replace Carlos and hopefully lead the company to a more stable position in the auto industry? Currently, this is up in the air, as Stellantis hopes to name his replacement near the end of 2025. Notably, the powers that be have already been searching for the next CEO as it has been known that his contract would soon expire.
As mentioned, this news comes after Stellantis and its many cars continue to struggle against the competition. In fact, it was recently announced that the company slashed its profit outlook for this year. Additionally, Stellantis faced intense pressure from workers’ unions due to layoffs and plant closures.
Notably, there has been a mysterious trend of exits from the company regarding top-level leadership. For more reading on the mass exodus of executives, check out this recent article from my colleague, Henry Cesari.
