Stellantis Confirms CEO Carlos Tavares Will Retire in 2026

by Chris Teague

Published: October 11th, 2024

stellantis confirms ceo carlos tavares will retire in 2026

CEOs don’t always have the longest tenures at the helm of public companies. The pressures of growing shareholders’ value and managing thousands of employees often cut many executives’ time short. Stellantis CEO Carlos Tavares is now approaching the end of his time at the top, as the automaker recently confirmed that he would retire at the end of his contract in early 2026.

Tavares took over as CEO of Stellantis in 2021 after Fiat Chrysler merged with PSA Group. While there were some bright spots during his tenure, the automaker has struggled in recent times, seeing large numbers of unsold vehicles and a drop in earnings. Those fumbles alarmed investors, causing the stock to slide by more than 40 percent in 2024.

Stellantis initially said it was looking for Tavares’ successor, but it needs a turnaround, and shortening its timeline is a good start. In addition to searching for a new CEO, the automaker shuffled the rest of its management team. Jeep CEO Antonio Filosa will add COO of Stellantis to his responsibilities, and Santo Ficili will take over at Alfa Romeo and Maserati. Other changes include new management at Stellantis’ China arm, including a new COO and CFO.

Though the changes were likely heavily targeted at appeasing investors, analysts aren’t convinced that it’s enough. Investment firm Bernstein’s analysts issued a statement on the move, saying in part, “After dismissing investors’ concerns on inventories and discounts in the U.S. for the better part of the past 12 months, the company lost significant trust when they cut guidance (sales and financial forecasts) in late September.”

They continued: “Today’s management reshuffle adds to a growing list of senior management changes (21 in the last 12 months) and will likely be unable to calm investors’ nerves.”

[Images: Stellantis]

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Chris Teague

Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.

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4 of 16 comments

Lorenzo 2 hours ago
Its not just Tavares, the management shake-up is huge. Only the Peugeot and Agnelli families working together could have initiated that.

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Jalop1991 1 hour ago
I work for the US arm of a Japanese-owned multinational conglomerate. We have a division that until earlier this year was run, for 10 years, by an absolute toxic piece of hsit VP. Run into the ground, actually, but he escaped scrutiny for 10 years by cooking some books. Anyway, finally the Japanese came in and "suggested" very strongly to US leadership that they get rid of this poison. They did--and instead of just having him retire immediately (he's like 67 years old), they "moved" him to the position of "special consultant to the CEO". It's another way of telling him to stay home and shut up and we'll keep paying you for a year or two, then you can gently retire--when your retirement won't be directly tied to the change of management in your old division. Welcome to corporate America.

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- SCE to AUX 58 minutes ago
  Barf
  
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- 28-Cars-Later 4 minutes ago
  The Japanese are strangely generous.
  
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