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
Growing demand for ADAS in India amid rising road safety concerns, HERE Technologies survey shows
As safety awareness increases, a HERE Technologies survey finds that Indian drivers are prioritizing Advanced Driver Ass...
Mobec launches recycling and Circular Economy initiatives to support sustainable mobility
Mobec’s new approach to battery refurbishment, material recovery, and energy storage aligns with India’s 2030 EV goals, ...
Wipro and FORVIA collaborate to enhance Advanced Driver Assistance Systems (ADAS)
Wipro’s Cloud Car Solution components aid FORVIA in optimizing ADAS applications, reducing hardware dependence, and impr...