Report: Stellantis Starts Search For CEO Replacement

Stellantis chairman John Elkann has reportedly started the search for a successor to the firm's current CEO Carlos Tavares.

Chairman of global automaking giant Stellantis John Elkann has reportedly started the search for candidates to replace its current CEO Carlos Tavares. The 66-year old Portuguese exec is currently on contract, which ends in Jan 2026.

Though Stellantis said it was normal to initiate the search for a successor in anticipation of Tavares’ expiring contract, it also remained possible that Tavares will stay on. However, it is also common knowledge that the exec is under pressure due to the firm’s current poor performance.

Much of this pressure also stems from growing dissatisfaction from chairman Elkann, especially with Stellantis’ situation in North America, says former execs who’ve left the company considering which who chose to remain anonymous.

66-year old Carlos Tavares has led Stellantis as its CEO since it was first formed in early 2021.

However, sources close to the matter also highlighted that Elkann reportedly has no plans for an immediate leadership change and Tavares will be included in the search process. Tavares has helmed the role of CEO at Stellantis since it was formed in early 2021.

Initially, Stellantis stood as one of the industry’s most profitable groups when it was first formed. However, the firm’s slowed pace in North America mentioned prior has led to record falls in sales and profits, subsequently sending its share prices tumbling over a third this year too.

Though Tavares pursued stringent cost-cutting courses as the automaker contends with problems in North America, weakening demand for electric cars in Europe and intensifying competition from Chinese competitors have made things even more challenging.

Stellantis has no less than 15 brands in its portfolio. Key amongst which are Peugeot, Citroën, Alfa Romeo, DS Automobiles, Fiat, Maserati, Leapmotor, and more.

Nevertheless, Tavares has been pushing for additional budget cuts to maintain profitability, thus stoking concerns that his aggressive efficiency push may endanger long-term projects and revenue flow. Part of this included possibly shedding one or more of the group’s brands.

As a refresher, the Stellantis roster of brands include Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, RAM Trucks, Vauxhall, as well as Leapmotor.