Current:Home > StocksStruggling Jeep and Ram maker Stellantis is searching for an new CEO-LoTradeCoin
Struggling Jeep and Ram maker Stellantis is searching for an new CEO
View Date:2024-12-24 09:25:54
DETROIT (AP) — Struggling Jeep and 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.
veryGood! (15554)
Related
- Tampa Bay Rays' Wander Franco arrested again in Dominican Republic, according to reports
- Can Taylor Swift sue over deepfake porn images? US laws make justice elusive for victims.
- Rescues at sea, and how to make a fortune
- Judge to fine a Massachusetts teachers union an extra $50,000 a day if 6-day strike continues
- Gun groups sue to overturn Maine’s new three-day waiting period to buy firearms
- Johnson says House will hold Mayorkas impeachment vote as soon as possible
- Luka Doncic lights up Hawks for 73 points, tied for fourth-most in one game in NBA history
- Second Rhode Island man pleads not guilty to charges related to Patriots fan’s death
- Wicked's Ethan Slater Shares How Ariana Grande and Cynthia Erivo Set the Tone on Set
- Biden delays consideration of new natural gas export terminals. Democrat cites risk to the climate
Ranking
- Ex-Phoenix Suns employee files racial discrimination, retaliation lawsuit against the team
- Man accused of picking up teen fugitive following escape now facing charges, authorities say
- Kim Kardashian Reveals If Her Kids Will Take Over Her Beauty Empire
- Lenny Kravitz to Receive the Music Icon Award at 2024 People's Choice Awards
- BITFII Introduce
- Jurgen Klopp announces he will step down as Liverpool manager at end of season
- Here's why employees should think about their email signature
- Jannik Sinner knocks out 10-time champ Novak Djokovic in Australian Open semifinals
Recommendation
-
Michael Grimm, former House member convicted of tax fraud, is paralyzed in fall from horse
-
2 children were among 4 people found dead in a central Kentucky house fire
-
Greta Gerwig deserves more than an Oscar for portrayal of motherhood in 'Barbie'
-
Gov. Lee says Tennessee education commissioner meets requirements, despite lack of teaching license
-
Can't afford a home? Why becoming a landlord might be the best way to 'house hack.'
-
Lauren Boebert’s ex-husband charged after 2 domestic incidents
-
2 lucky New Yorkers win scratch-off games worth millions
-
Horoscopes Today, January 26, 2024