Restructuring measures are being implemented within Stellantis' leadership team.
In the United States, Stellantis, the organization backing Chrysler, is planning to retire its CEO, Carlos Tavares, at the conclusion of his term in early 2026. The company has verified this information. Stellantis is undergoing a transformation of its administration in an attempt to boost its struggling North American operations.
The company has commenced the hunt for Tavares' successor, according to reports. The CEO of the fourth-largest global automaker (in terms of revenue) has encountered harsh criticism from various quarters lately, including the UAW union, auto dealers, and shareholders. In response to these criticisms, Tavares announced a management restructuring, including his own retirement, as stated in a press release.
Stellantis also named Doug Ostermann, the former COO of its China division, as the new CFO. He will succeed Natalie Knight, who is departing the company. Additionally, Antonio Filosa has been appointed as COO for North America, in addition to his role as head of the Jeep brand. He is replacing Carlos Zarlenga, whose future role within the organization is yet to be announced.
Beyond these management changes, Stellantis is also reorganizing its structure. The supply chain department will now fall under the production department, with the aim of enhancing the performance of its suppliers.
Stellantis' earnings and revenues have been on a downward trend, forcing the company to reduce its 2024 profit forecast and announce potential dividend cuts and share buybacks for the following year. Analysts have revised Stellantis' stock rating, which has declined by 42% this year, largely due to missteps in North America, where sales of popular products such as Jeep and Ram trucks have a significant impact on profits.
Tavares and others in Stellantis' leadership have faced criticism from various parties, including the UAW union, auto dealers, and shareholders. Tavares, along with other executives like Antonio Filosa and Doug Ostermann, is part of the major management changes at Stellantis.
