Table of Contents:
An unexpected change in Stellantis
On December 1, 2024, Carlos Tavares resigned from his position as CEO of Stellantis, an event that took many in the automotive industry by surprise. Tavares, known for his crucial role in the merger between PSA and FCA in 2020, has led the group since its creation in 2021. His resignation comes at a critical time, with Stellantis recording a 27% drop in revenues in the third quarter of 2024 and a decrease in sales in
the US market.
The challenges of the automotive industry
Tavares’s resignation is not only a change in leadership, but it also reflects the wider difficulties the automotive industry is facing. The growing competition from Chinese manufacturers and the challenges related to the transition to electric vehicles are putting a strain on companies in the sector. Stellantis, in particular, faces an identity and sales crisis, while trying to adapt to a rapidly changing market
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The future of Stellantis and the search for a new CEO
With the release of Tavares, Stellantis has started a process to appoint a new CEO, which is expected to be completed by mid-2025. Meanwhile, John Elkann, president of Stellantis, will lead an interim executive committee. The choice of the successor is crucial, as the new leader will have to face fundamental strategic decisions for the future of the company. Speculation about possible candidates, including Luca De Meo from Renault and Olivier Francois, has already started, but at the moment there is no official confirmation
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John Elkann’s statements and future prospects
John Elkann expressed gratitude for the work done by Tavares, underlining his contribution to the creation of Stellantis and to the previous successes of PSA and Opel. However, differences between Tavares and the board of directors, as highlighted by Henri de Castries, suggest that the transition may not be easy. The need for alignment between shareholders, board and CEO is critical to the company’s future success
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Conclusions on Tavares’s legacy
Carlos Tavares’s career in the automotive sector has been characterized by challenges and successes. After leaving Renault due to differences with former CEO Carlos Ghosn, he led PSA to a significant recovery. His legacy at Stellantis will be evaluated based on the company’s ability to navigate a complex and constantly evolving market environment. As Stellantis gears up for a new chapter, the automotive industry is closely watching the company’s future moves
.
