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America One News
2 Dec 2024
#economy
Le Monde: Stellantis CEO Tavares ousted out as profit slumps
Stellantis CEO Carlos Tavares has resigned immediately amid growing differences with the board over strategies to address the company's profit decline. The board is currently seeking a successor, with an interim committee managing operations until a new CEO is appointed by mid-2025.
Stellantis has faced significant challenges, including a drop in North American sales and delays in model launches. The company has attributed its struggles to increased competition from China and difficulties transitioning to electric vehicles.