To say Stellantis is in dire straits can be an understatement. Gross sales are plummeting so sharply in america 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 Seller Council warned that the automotive conglomerate is dealing with 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 top 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 preserve his job for longer, that is not going to be the case. In keeping 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 alternative has already began and is being performed by a Particular Committee of the Board chaired by John Elkann who can also be Ferrari’s chairman. Stellantis says it wants till the tip of subsequent yr to select the fitting 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 Govt Officer of each Italian high-end manufacturers. Grasso will stick with Stellantis however in a unique 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 may also be the CEO of Professional One, the business facet of Stellantis.
Elsewhere, Antonio Filosa continues as Jeep CEO however may also tackle the duties of a North America Chief Working Officer (COO) to exchange Carlos Zarlenga. The latter will assume a unique place throughout the firm. Doug Ostermann takes on the function of the Chief Monetary Officer to exchange Natalie Knight who’s leaving.
Tavares had a variety of issues to say in latest weeks about what is going on on at Stellantis. He blamed unhealthy advertising for Maserati’s poor gross sales. The CEO additionally pointed a finger on the Sterling Heights manufacturing unit in Michigan the place too many Ram vehicles want repairs proper after leaving the meeting line. On a associated observe, Stellantis just lately admitted that it has an extra of unsold vehicles and it is attempting to slim down the stock.
Not one of the 14 automotive manufacturers beneath the company umbrella are vulnerable to dealing with the chopping block. Properly, a minimum of not in the meanwhile. Introduced in 2021, the unique plan to maintain all firms for 10 years remains to be in place. Meaning Stellantis will proceed to have endurance with Lancia, DS Vehicles, Chrysler, and different troubled automakers.
