CEOs don’t always have the longest tenures at the helm of public companies. The pressures of growing shareholders’ value and managing thousands of employees often cut many executives’ time short. Stellantis CEO Carlos Tavares is now approaching the end of his time at the top, as the automaker recently confirmed that he would retire at the end of his contract in early 2026.
Tavares took over as CEO of Stellantis in 2021 after Fiat Chrysler merged with PSA Group. While there were some bright spots during his tenure, the automaker has struggled in recent times, seeing large numbers of unsold vehicles and a drop in earnings. Those fumbles alarmed investors, causing the stock to slide by more than 40 percent in 2024.
Stellantis initially said it was looking for Tavares’ successor, but it needs a turnaround, and shortening its timeline is a good start. In addition to searching for a new CEO, the automaker shuffled the rest of its management team. Jeep CEO Antonio Filosa will add COO of Stellantis to his responsibilities, and Santo Ficili will take over at Alfa Romeo and Maserati. Other changes include new management at Stellantis’ China arm, including a new COO and CFO.
Though the changes were likely heavily targeted at appeasing investors, analysts aren’t convinced that it’s enough. Investment firm Bernstein’s analysts issued a statement on the move, saying in part, “After dismissing investors’ concerns on inventories and discounts in the U.S. for the better part of the past 12 months, the company lost significant trust when they cut guidance (sales and financial forecasts) in late September.”
They continued: “Today’s management reshuffle adds to a growing list of senior management changes (21 in the last 12 months) and will likely be unable to calm investors’ nerves.”
[Images: Stellantis]
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