Shares of Stellantis N.V. STLA traded lower on Monday. In a move that has investors concerned and confused, CEO Carlos Tavares has resigned. This comes as a surprise because two months ago he said that he would retire in 2026.As you can see on the chart, shares have dropped over 40% this year. However, a potential bottom may be forming, making it our Stock of the Day.Markets don't like uncertainty. This means that nervous investors will probably continue to sell and put pressure on the shares. This could co ...

Carlos Tavares, architect of the merger that created Stellantis, has resigned.On Sunday, Stellantis (STLA -6.29%) announced that it had parted ways with CEO Carlos Tavares, who had led the company since it was formed in 2021 through the merger of Fiat Chrysler Automobiles and French automaker PSA Peugeot.Tavares sold the merger with promises that under his leadership, the combined company could generate double-digit-percentage operating margins year after year by cutting costs without cutting too many jobs. ...

Outgoing CEO Carlos Tavares clashed with Stellantis’ board over his plans to quickly turn around the ailing US business by cutting costs, rather than focusing on long-term strategy, investors and bankers familiar with the matter said on Monday.Shares in the Jeep, Fiat and Peugeot manufacturer slumped as much as 10%, hitting their lowest since July 2022, as investors worried about the vacuum left at the top of the world’s No. 4 carmaker following Tavares’ resignation on Sunday. The stock closed down 6.3% in ...

Advertisement Stellantis CEO Carlos Tavares's resignation comes after months of pressure.The global auto giant is in turmoil amid poor financial performance in 2024.Tavares leaves the company locked in legal battles with investors and union workers.Carlos Tavares tendered his resignation from the top job at global automaker Stellantis over the weekend after a year of mounting pressure to turnaround falling sales and shrinking margins. Dealers had accused him in September of mismanaging valuable brands that ...

Stellantis Organizational Announcement AMSTERDAM, December 2, 2024 – The process to appoint the new permanent Chief Executive Officer is well under way, managed by a Special Committee of the Board, and will be concluded within the first half of 2025. While the appointment of the new CEO is concluded the following organization is implemented with immediate effect. The Interim Executive Committee (“IEC”) will be responsible for the direction and oversight of the Company on behalf of the Board of Directors. Th ...

Key TakeawaysStellantis shares tumbled following the carmaker's announcement that CEO Carlos Tavares resigned, effective immediately.The struggling company expects to name a replacement next year.Stellantis also reiterated its 2024 outlook after warning that U.S. sales were dragging down margins. Stellantis (STLA) shares sank after the the struggling carmaker said over the weekend that CEO Carlos Tavares was stepping down, effective immediately. The company that owns brands including Chrysler, Jeep, Fiat, a ...

The automaker cited “different views” between its former CEO and board of directorsShares of Stellantis NV (NYSE:STLA) are down 7.8% to trade at $12.17 at last glance, after CEO Carlos Tavares abandoned his role on Sunday amid struggling Jeep and Ram sales. The automaker -- which is also the parent of Peugeot and Fiat -- noted “different views” between Tavares and its board of directors, and expects to replace him in the first half of 2025.Shares earlier gapped to a fresh two-year low of $12.13, and are pac ...

Stellantis CEO Carlos Tavares abruptly resigned on Sunday after four years at the helm of the automaker due to disagreements with the board.  The company said its board of directors accepted Tavares’ resignation effective immediately. The company, which owns brands such as Chrysler, Jeep, Fiat and Peugeot, said its search for Tavares' permanent replacement is "well under way" and is expected to conclude in the first half of the new year. In the meantime, a new interim executive committee, led by John Elkann ...

ToplineShares of Stellantis—the automaker that owns key brands including Jeep, Ram and Chrysler—tanked sharply on Monday morning, hours after the company announced it had accepted CEO Carlos Tavares’ abrupt resignation.Stellantis CEO Carlos Tavares announced his resignation on Sunday.Copyright 2023 The Associated Press. All rights reserved. Key FactsThe Italian-American automaker’s Paris-listed shares were down more than 7.5% to around $12.1 (€11.5) after markets opened in Europe, while its New York Stock E ...

Stellantis shares fell sharply on Monday after news CEO Carlos Tavares had stepped down from his position as head of Europe’s second largest car manufacturer following a major slump in the Jeep and Renault maker’s sales. In a statement on Sunday, Stellantis said its board had accepted Tavares resignation with immediate effect, as the carmaker outlined plans to have recruited a new CEO within the first half of 2025.  ...