Stellantis (STLAM.MI), opens new tab is searching for CEO Carlos Tavares' successor, the company said Monday, after the Chrysler parent laid out a plan to strengthen North America operations by slashing bloated inventories and cutting vehicle prices.
Stellantis said it was normal to initiate a search for Tavares' replacement in anticipation of his contract expiring in January 2026, and it remained possible Tavares will stay after that.
Tavares, who has run Stellantis since its creation in early 2021, has made it one of the most profitable groups in the industry. Still, he has been pressured recently to correct the automaker's struggling North American operations, whose record falls in sales and profit have sent its share price tumbling.
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