Stellantis CEO Tavares to Step Down From Jeep, Ram Parent
Stellantis, the parent company of Jeep, Ram, and Fiat, is undergoing significant leadership changes amid declining profits and U.S. sales. CEO Carlos Tavares plans to retire at the end of his contract in early 2026. The company has initiated a formal search for his successor, aiming to complete the process by late 2025.
In a recent management overhaul, Stellantis appointed Doug Ostermann as Chief Financial Officer, replacing Natalie Knight. Ostermann previously served as Chief Operating Officer for Stellantis China and has over 19 years of experience in finance within the automotive industry. Additionally, Antonio Filosa, formerly CEO of Jeep, has been named Chief Operating Officer for North America.
These leadership changes come as Stellantis faces challenges in the North American market, including a 27% decline in third-quarter net revenues and a 20% drop in global vehicle shipments. The company is also dealing with high inventory levels and potential labor strikes, prompting efforts to reduce costs and revitalize sales.
In a related development, former Jeep CEO Christian Meunier stepped down after three years, during which the brand underwent significant transformations. His departure is part of the broader leadership restructuring aimed at addressing the company's current challenges.
These strategic moves reflect Stellantis' commitment to strengthening its leadership team to navigate the evolving automotive landscape and improve its market position.
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