Stellantis CEO Tavares to retire in 2026 amid auto industry 'Darwinian period'

THEY ARE THE DINOSAUR OF THE AUTO INDUSTRY

Oct. 11, 2024 


Stellantis said Friday CEO Carlos Tavares (C) will retire in early 2026 amid what Tavares called a "Darwinian period" in the global auto industry. The struggling company also announced other management changes after third quarter sales plunged. File Photo by Christophe Petit Tesson/EPA

Oct. 11 (UPI) -- Stellantis said Friday CEO Carlos Tavares will retire in early 2026 as the struggling company announced what it called targeted management changes in a turbulent global environment for the auto industry.

A Special Committee of the Board is working to find a successor for Tavares. Stellantis said the committee will complete that work by the fourth quarter of 2025.

"During this Darwinian period for the automotive industry, our duty and ethical responsibility is to adapt and prepare ourselves for the future, better and faster than our competitors to deliver clean, safe and affordable mobility," Tavares said.

Stellantis also announced a series of other leadership changes.

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Effective immediately, Stellantis said Friday Antonio Filosa is the new North America Chief Operating Officer in addition to his role as Jeep brand CEO. He succeeds Carlos Zarlenga "whose next position will be subject to a further announcement."

Jean-Philippe Imparato is the new Chief Operating Officer Enlarged Europe. He will also continue as CEO of Pro One, succeeding Uwe Hochgeschurtz, who will leave the Company.

Doug Ostermann is the new Stellantis Chief Financial Officer, succeeding Natalie Knight, who will leave the company.

Gregoire Olivier becomes the new CEO for Stellantis in China and retains his Liaison Officer to Leapmotor position.

Santo Ficili is taking over as CEO of Maserati and Alfa Romeo.

Stellantis is also moving its Supply Chain organization into its Manufacturing Division, led by Arnaud Deboeuf. It's moved from the Purchasing Division led by Maxine Picat.

"The newly appointed leadership team members will make their valuable contributions to our overall team's determination to tackle the challenges ahead, reinforcing and accelerating our transformation to become the preferred mobility tech company," said Tavares.

Stellantis Chairman of the Board John Elian said the board "is unanimous in its support of Carlos Tavares and for the decisive changes announced today."

"We are confident that these steps to simplify our organization will strengthen our leadership team as they work to restore the Company's performance to industry-leading levels," he said.

Stellantis third quarter 2024 sales fell 20% with Chrysler and Dodge brand sales plunging by 47% and 43% respectively.

The company also recalled 154,000 Jeep Wrangler and Grand Cherokee hybrids for fire risks Oct. 1.

The UAW is accusing Stellantis of violating its labor contract with the union on manufacturing commitments in the United States. The union is holding a strike authorization vote.

"Thousands of UAW members sacrificed on the picket line to win this contract, and we intend to enforce it, even if that means going back on strike," the UAW said in a statement on its website.

The UAW said Stellantis "will kill thousands of jobs" in the United States by moving Dodge Durango production from the Detroit Assembly Complex to Canada.