Stellantis Stock Slides as Big Three Automaker Announces Executive Shakeup

Group 1 - Stellantis shares declined after announcing a management shakeup aimed at addressing a sales slump [1][2] - CFO Natalie Knight is replaced by Doug Ostermann, the COO of China, as part of the executive changes [1] - The company is facing challenges such as a slowing car market, excess inventory, and competition from China [2] Group 2 - CEO Carlos Tavares described the current period as "Darwinian" for the automotive industry, indicating the need for a strong management team to tackle upcoming challenges [2] - Stellantis has cut its outlook and reported a significant drop in U.S. sales, leading to a downgrade from Barclays [2] - Shares of Stellantis have decreased by over 40% since the beginning of the year, with a 3% drop noted in early trading following the management announcement [2]