Stellantis Begins Search For New CEO To Succeed Carlos Tavares (Updated)
Portfolio Pulse from Anan Ashraf
Stellantis NV is searching for a new CEO to succeed Carlos Tavares, whose contract expires in 2026. The company faces criticism from the U.S. Stellantis National Dealer Council and the UAW union over decision-making and labor practices. Stellantis reported a significant drop in profits and revenue for H1 2024, with a notable decline in U.S. sales.
September 24, 2024 | 11:13 am
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Stellantis is searching for a new CEO amid criticism and disappointing financial results. The company faces challenges in North America, with a 48% drop in H1 2024 profits and a 21% decline in U.S. sales.
The search for a new CEO and criticism from the U.S. Stellantis National Dealer Council and UAW union indicate potential instability in leadership and labor relations. The significant drop in profits and sales suggests operational challenges, particularly in North America, which could negatively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100