Stellantis Launches Search for New CEO Amid U.S. Market Struggles

The automaker is considering a successor to Carlos Tavares as it faces declining sales, union pressures, and inventory issues.

Stellantis Chairman John Elkann has initiated the search for a new CEO, with Carlos Tavares' contract set to expire in early 2026.
The decision comes amid significant challenges in the North American market, including declining sales, high inventory levels, and quality issues.
Tavares has faced criticism from U.S. dealers and the United Auto Workers union over poor financial performance and delayed factory openings.
Stellantis aims to reduce its U.S. inventory by 100,000 vehicles by early next year and has already cut 40,000 units in recent months.
The company's board will meet in October to discuss strategies for improving its North American operations, including potential budget cuts and brand sales revamps.