Stellantis N.V. NYSE: STLA stock is down over 2% after the announcement that chief executive officer (CEO) Carlos Tavares was resigning, effective immediately. The company says a search is ongoing, and a new CEO is expected to be announced in the first half of 2025. In the interim, an executive committee will run the parent company for brands such as Chrysler, Jeep, Fiat, and Peugeot. Stellantis TodaySTLAStellantis$12.73 +0.22 (+1.76%) 52-Week Range$12.12▼$29.51Price Target$27.34Add to WatchlistHowever, in ...

Core Insights - Stellantis CEO Carlos Tavares resigned abruptly, with disagreements between him and the board cited as a primary reason for his departure [1][2][3] - The board and Tavares had differing views on operational priorities and stakeholder interactions, leading to a lack of consensus on short-term versus long-term strategies [2][3] - Critics have pointed out that Tavares's cost-cutting measures, particularly affecting the Jeep brand, created a facade of success while harming long-term demand in the US market [4] Company Performance - Stellantis's US sales through September 2023 were down 17% compared to the previous year, with significant volume losses in the Jeep and Ram brands [7] - The Jeep brand has lost market share to competitors like Hyundai in the affordable SUV segment [7] Stakeholder Reactions - The departure of Tavares has been viewed positively by US dealers and union leaders, who see it as a necessary step to rebuild trust [5][6] - An open letter from Stellantis's US dealers over the summer criticized Tavares for "reckless short-term decision-making" that led to predictable negative outcomes in the US market [8] - UAW President Shawn Fain expressed that Tavares's exit is a "major step in the right direction" and emphasized the union's commitment to holding Stellantis accountable amid planned layoffs [9][10]

Firing its CEO isn't the only problem Stellantis is facing right now.Stellantis (STLA 1.48%) seemed to be on the path to recovery after the worst of the pandemic, but now that the market has gotten back to a more normalized supply-and-demand environment, the company's sales have dropped. In this video, Travis Hoium shows why strategic difficulties are at the core of Stellantis' problems.*Stock prices used were end-of-day prices of Dec. 2, 2024. The video was published on Dec. 3, 2024. ...

Stellantis N.V. (NYSE:STLA) Goldman Sachs 16th Annual Industrials & Autos Week December 4, 2024 8:20 AM ET Company Participants Doug Ostermann - Chief Financial Officer Conference Call Participants Unidentified Participant – Unidentified Company Unidentified Participant For our next session, which obviously is incredibly well attended, so thank you. I'm delighted to welcome Doug Ostermann, new CFO of Stellantis. Doug has a very extensive career within the automotive industry, and I think that, obviously, gi ...

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AUBURN HILLS, Mich., Dec. 3, 2024 /PRNewswire/ -- Chrysler Pacifica and The Elf on the Shelf® create holiday magic together this season. As the official minivan of the holiday season, Chrysler Pacifica and The Elf on the Shelf join together to spread Christmas magic Holiday campaign to run through Christmas Eve across Chrysler brand's Instagram, Facebook and TikTok social media channels Consumers can play along as The Elf on the Shelf, Scout Elf, finds its way into the Chrysler Pacifica and Chrysler P ...

AUBURN HILLS, Mich., Dec. 3, 2024 /PRNewswire/ -- Ram 1500 lineup earns the award for the sixth time in seven years Car and Driver evaluates each contender versus its peers using a 100-point scale, basing each score on intended purpose, value and vehicle operation Ram brand offers a full lineup focused on meeting the demands of truck buyers and delivering benchmark quality 2025 Ram 1500 Tungsten Car and Driver has named the 2025 Ram 1500 to its 10Best vehicle list for 2025. The award applies to the e ...

Advertisement This post originally appeared in the Insider Today newsletter.You can sign up for Business Insider's daily newsletter here.Good morning! We've officially entered the season of company holiday parties. An etiquette expert shared some helpful tips to follow. (Take it easy on the booze.)In today's big story, an automaker CEO's resignation shows how tough a year the industry is having.Advertisement What's on deck:But first, I'm just trying to get out of first gear.If this was forwarded to you, s ...

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