Stellantis’ CEO promises to leave in 2026 after mostly making a mess of things

Stellantis is shaking up its leadership. The institution announced today that CEO Carlos Tavares volition discontinue astatine the extremity of his declaration successful 2026, and a big of different executives are being astir being shuffled astir immediately. The changes travel arsenic Stellantis struggles to negociate its US car business, which includes Chrysler, Jeep, Dodge, and Ram. The institution is actively looking for Tavares’ successor.

On his mode out, the enforcement shakeup includes replacing the existent CFO, Natalie Knight, and North American COO, Carlos Zarlenga, with the company’s China COO, Doug Ostermann, and the Jeep marque CEO, Antonio Filosa, respectively. Knight is leaving the company, Filosa volition support his relation astatine Jeep successful summation to becoming North American COO, and Zarlenga’s caller presumption volition beryllium announced later.

Tavares has led Stellantis since the company’s inception successful 2021, which resulted from a merger betwixt Fiat Chrysler and Peugeot S.A. While the institution was profitable successful 2023, it’s been dilatory to follow electrical vehicles compared to astir each different automaker, and prices of fashionable models nether Jeep and Ram started to skyrocket.

Now Stellantis has chopped its nett forecast for the year, and its banal is falling. The automaker is accused by its dealership partners of degrading its American brands, slowing timelines betwixt products, and not releasing affordable vehicles.

The United Auto Workers national besides accuses Stellantis of not upholding declaration commitments. Reuters asked UAW for comment, and a typical sent them a representation of Tavares successful a trashcan. UAW workers had gone connected onslaught past year.