Profits at Stellantis plunged during the first half of the year and Tavares has faced backlash from both European and US dealers
Stellantis CEO Carlos Tavares will retire in 2026 after facing intense criticism from dealers and unions Tavares has faced backlash for cratering profits, leading the UAW president to criticize his performance as inadequate. The leadership shake-up includes several managerial changes as Stellantis prepares for a new era under different executives.
Carlos Tavares became chief executive of Groupe PSA in 2014 and played a pivotal role in the merger between PSA and Fiat Chrysler Automobiles, which resulted in the creation of Stellantis. Last year, he earned $39.5 million—roughly 518 times the salary of the average Stellantis employee. Leadership Shake-Up Stellantis confirmed Tavares will step aside in a press release confirming a slew of other managerial changes.
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