The parent company of Chrysler, Fiat and Jeep said Sunday that Tavares had resigned effective immediately. Senior independent director Henri de Castries said the carmaker’s success depended on “perfect alignment” between the shareholders, board and CEO, but that had changed in recent weeks. (The Logic)
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The parent company of Chrysler, Fiat and Jeep said Sunday that Tavares had resigned effective immediately. Senior independent director Henri de Castries said the carmaker’s success depended on “perfect alignment” between the shareholders, board and CEO, but that had changed in recent weeks. (The Logic)
Talking point: Tavares, who was expected to retire when his contract ended in 2026, told analysts in August that the company’s financial results for the first half of the year were “disappointing and humbling.” Dealerships like AutoCanada have said there was soft consumer demand for Stellantis vehicles, causing inventory writedowns. Tavares is known for his tough negotiating style and successful turnarounds of companies like Peugeot in Europe. But he has also ruffled feathers—including in Canada, where Stellantis, alongside LG, threatened to pull the plug on their battery factory last year unless Canada upped its subsidy package. The company aims to name a new CEO in the first half of next year.
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