{"id":2375161,"date":"2024-12-01T19:04:01","date_gmt":"2024-12-02T00:04:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ceo-of-fourth-largest-automaker-stellantis-resigns-washington-examiner\/"},"modified":"2024-12-01T19:04:39","modified_gmt":"2024-12-02T00:04:39","slug":"ceo-of-fourth-largest-automaker-stellantis-resigns-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ceo-of-fourth-largest-automaker-stellantis-resigns-washington-examiner\/","title":{"rendered":"CEO of fourth-largest automaker Stellantis resigns &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fceo-of-fourth-largest-automaker-stellantis-resigns-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2375161&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The CEO of \u200dStellantis, \u200cthe <a href=\"https:\/\/amzn.to\/3YuVZYV\">fourth-largest \u2062automaker globally<\/a>, Carlos Tavares, has resigned immediately, as announced by the company on Sunday. Stellantis, known for brands like Jeep and Chrysler, cited &#8220;different views&#8221; between the board\u2062 and Tavares concerning the company&#8217;s declining sales in the\u200d United States as the reason\u200d for his departure. The board accepted \u2063the resignation amid a backdrop\u200c of falling profits and a significant drop in shares, which have plummeted over 40% this year.\u2062 Tavares, an experienced auto executive, held\u200b the CEO \u200dposition since \u200dStellantis was formed in 2021 from the merger\u2064 of Fiat Chrysler Automobiles and PSA Group. The company has already started searching for a new CEO, with Tavares&#8217;s contract \u2062initially set to expire in 2026.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">CEO of fourth-largest automaker Stellantis resigns<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1895580\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>The CEO of the <a href=\"http:\/\/washingtonexaminer.com\/tag\/cars\" target=\"_blank\" rel=\"noopener\" title=\"\">automaker <\/a>Stellantis, which produces well-known vehicles such as Jeep and Chrysler, is <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/brooklyn-center-police-chief-resigns-along-with-officer-who-shot-daunte-wright\/\" title=\"Brooklyn Center Police Chief Resigns Along With Officer Who Shot Daunte Wright\">resigning effective immediately<\/a>, the company said Sunday.<\/p>\n<div class=\"article-paywall\">\n<p>In a <a href=\"https:\/\/www.stellantis.com\/en\/news\/press-releases\/2024\/december\/board-accepts-carlos-tavares-resignation-as-chief-executive-officer?adobe_mc_ref=\" target=\"_blank\" rel=\"noopener\" title=\"statement\">statement<\/a>, the automaker, which is <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/central-african-republic-votes-under-threat-of-violence\/\" title=\"Central African Republic votes under threat of violence\">fourth largest<\/a> in the world by sales behind Toyota, Volkswagen, and Hyundai, announced that the board of directors accepted the resignation of now-former CEO Carlos Tavares, citing &ldquo;different views&rdquo; that have emerged as sales in the United States have <a href=\"https:\/\/www.nytimes.com\/2024\/09\/29\/business\/stellantis-jeep-dodge-strike.html\" target=\"_blank\" rel=\"noopener\" title=\"plummeted\">plummeted<\/a>.<\/p>\n<p>&ldquo;Stellantis&rsquo; success since its creation has been rooted in a perfect alignment between the reference shareholders, the Board and the CEO. However, in recent weeks different views have emerged which have resulted in the Board and the CEO coming to today&rsquo;s decision,&rdquo; the statement said.<\/p>\n<p>The company added that the process to find a new CEO is already &ldquo;well under way,&rdquo; as Tavares&rsquo;s contract was set to expire in 2026.<\/p>\n<p>Tavares, 66, is a longtime auto executive who previously worked as CEO of the French automaker Peugeot and as <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/flashback-former-ag-barr-initiated-spying-program-on-americans-back-in-1992\/\" title=\"FLASHBACK: Former AG Barr Initiated Spying Program on Americans Back in 1992\">executive vice president<\/a> at Nissan. He became the CEO of Stellantis when it was first formed in a <a href=\"https:\/\/www.wsj.com\/business\/autos\/ceo-of-jeep-maker-stellantis-stepping-down-following-sales-slump-ccd0104a?mod=hp_lead_pos4\" target=\"_blank\" rel=\"noopener\" title=\"merger\">merger<\/a> of Fiat Chrysler Automobiles and France&rsquo;s PSA Group in 2021.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Stellantis CEO Carlos Tavares is resigning effective immediately, the automaker announced on Sunday. (AP)<\/figcaption><\/figure>\n<p>After initial success during the COVID-19 pandemic, the company&rsquo;s sales began to fall in the first half of 2024, with net profit <a href=\"https:\/\/www.wsj.com\/business\/earnings\/stellantis-considers-price-cuts-after-earnings-drop-missing-expectations-856d4633?mod=article_inline\" target=\"_blank\" rel=\"noopener\" title=\"falling \">falling <\/a>by 48%. Shares of Stellantis have fallen by more than 40% this year.<\/p>\n<p>Regarding slowing U.S. sales, Tavares <a href=\"https:\/\/finance.yahoo.com\/news\/stellantis-boss-blames-arrogance-failing-104043156.html\" target=\"_blank\" rel=\"noopener\" title=\"pinned \">pinned <\/a>the blame on his own &ldquo;arrogance&rdquo; earlier this summer.<\/p>\n<p>&ldquo;When I am saying we were arrogant, I&rsquo;m talking about myself, nobody else. I&rsquo;m talking about the fact that I should have acted immediately, recognizing that the convergence of those three problems was there, and we had to set up a task force to address them,&rdquo; he said at a Stellantis investor day.<\/p>\n<p>At the same meeting, Tavares also made clear his opposition to tariffs, which is now at the forefront of President-elect Donald Trump&rsquo;s trade policy.<\/p>\n<p>Earlier this week, Trump <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/3242830\/automaker-shares-plummet-trump-details-tariff-plan\/\" target=\"_blank\" rel=\"noopener\" title=\"announced \">announced <\/a>that his tariff plan would include&nbsp;25% tariffs&nbsp;on imported goods from&nbsp;Canada&nbsp;and&nbsp;Mexico, leading to shares of Stellantis and fellow automaker General Motors falling by 4% and 7%, respectively.<\/p>\n<p><strong><a href=\"http:\/\/washingtonexaminer.com\" target=\"_blank\" rel=\"noopener\" title=\"\"><\/a><\/strong><\/p>\n<p>The plan could severely affect the automotive industry as many companies have moved manufacturing plants to other countries to lower the cost of production on vehicles.<\/p>\n<p>Stellantis, for its part, has four production plants in Mexico.<\/p>\n<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1895580\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1895580\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stellantis CEO resigns immediately amid sales decline<\/p>\n","protected":false},"author":3359,"featured_media":2375162,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/12\/stellantis-ceo-carlos-tavares-resigns.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[32509,3850,4133,6522,45971],"class_list":["post-2375161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-automotive-industry","tag-ceo","tag-news","tag-resignation","tag-stellantis"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/12\/stellantis-ceo-carlos-tavares-resigns.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2375161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3359"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2375161"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2375161\/revisions"}],"predecessor-version":[{"id":2375165,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2375161\/revisions\/2375165"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2375162"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2375161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2375161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2375161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}