To say Stellantis is in dire straits can be an understatement. Gross sales are plummeting so sharply in the US that sellers are accusing Carlos Tavares of the “fast degradation” of the American manufacturers. In an open letter despatched to the CEO, the US Stellantis Nationwide Vendor Council warned that the automotive conglomerate is going through a “catastrophe.” We’re now studying the massive boss will step down, however not till early 2026.
Tavares is the primary and solely CEO of Stellantis, appointed as the pinnacle honcho after the PSA Group merged with Fiat-Chrysler Vehicles in 2021. His five-year contract expires firstly of 2026. Though experiences have been suggesting he might maintain his job for longer, that is not going to be the case. In accordance with a press launch issued by Stellantis, Tavares “retires on the conclusion of his CEO time period in early 2026.”
The search course of to discover a substitute has already began and is being performed by a Particular Committee of the Board chaired by John Elkann who can be Ferrari’s chairman. Stellantis says it wants till the tip of subsequent 12 months to choose the best particular person to succeed Tavares. Within the meantime, Elkann factors out that “the Board of Administrators is unanimous in its help of Carlos Tavares and for the decisive adjustments introduced.”
What are these adjustments you ask? Davide Grasso and Jean-Philippe Imparato are not the CEOs of Maserati and Alfa Romeo, respectively. Santo Ficili has been appointed Chief Government Officer of each Italian high-end manufacturers. Grasso will stick with Stellantis however in a special place. As for Imparato, he’s now Chief Working Officer (COO) within the Enlarged Europe area by changing Uwe Hochgeschurtz who’s leaving the corporate. Imparato can even be the CEO of Professional One, the business facet of Stellantis.
Elsewhere, Antonio Filosa continues as Jeep CEO however can even tackle the duties of a North America Chief Working Officer (COO) to interchange Carlos Zarlenga. The latter will assume a special place throughout the firm. Doug Ostermann takes on the position of the Chief Monetary Officer to interchange Natalie Knight who’s leaving.
Tavares had a whole lot of issues to say in current weeks about what is going on on at Stellantis. He blamed unhealthy advertising and marketing for Maserati’s poor gross sales. The CEO additionally pointed a finger on the Sterling Heights manufacturing facility in Michigan the place too many Ram vehicles want repairs proper after leaving the meeting line. On a associated be aware, Stellantis not too long ago admitted that it has an extra of unsold vehicles and it is attempting to slim down the stock.
Not one of the 14 automobile manufacturers underneath the company umbrella are prone to going through the chopping block. Properly, no less than not in the meanwhile. Introduced in 2021, the unique plan to maintain all firms for 10 years continues to be in place. Meaning Stellantis will proceed to have endurance with Lancia, DS Vehicles, Chrysler, and different troubled automakers.
