Stellantis begins search for Carlos Tavares' successor: Report
Tavares has been under pressure to correct the automaker's struggling North American operations, with record falls in sales and profit that have sent the company's share price tumbling.
Stellantis said on Monday that it has begun looking out for Carlos Tavares' successor, as his contract is slated to expire in 2026, Reuters said. The auto firm noted that it has however not ruled out the possibility of Tavares extending his term, the newswire reported.
Tavares has been mandated to course-correct the firm's declining North American operations, with record falls in sales and profit, that have led the firm's share price to nosedive.
Tavares, who was named top boss in 2021, has been a part of several automakers including Renault, PSA and Nissan, the newswire noted.
The firm is looking to bolster its positioning in North America by cutting inventories and vehicle prices, the group's Chief Financial Officer Natalie Knight said at a BofA Securities virtual conference earlier on Monday. Reuters attributed the first news break to Bloomberg.
RELATED ARTICLES
India, US ink MoU to cooperate on critical battery mineral supply chains: Report
Goyal noted that the MoU would look at open supply chains for materials, technology development and investment flows to ...
Simple energy introduces 8-Year warranty on both battery and motor, a first in India
The electric mobility start-up launches extended warranty programs, offering an 8-year or 60,000-kilometre warranty on i...
Mahindra foresees up to 20% EV penetration in SCVs by 2030
From zero percent penetration in FY22, the company foresees up to 20 percent penetration in the small-commercial vehicle...