Stellantis shares tumble after CEO Carlos Tavares’ abrupt resignation
Investors and bankers familiar with the matter said Monday that outgoing CEO Carlos Tavares will quickly turn around the struggling U.S. business by cutting costs rather than focusing on long-term strategy. The company revealed that it had clashed with Stellantis' board of directors over the plan. Shares in the makers of Jeep, Fiat and Peugeot […]
Stellantis CEO Carlos Tavares Abruptly Resigns
Carlos Tavares, CEO of leading multinational car manufacturer Stellantis, abruptly tendered his resignation on Sunday. The company immediately accepted Tavares' resignation and began the process of finding a new CEO. According to Go to press release. The company estimates the process will be completed by mid-2025 and announced it has authorized a “new interim executive […]
Stellantis chief executive Carlos Tavares resigns as carmaker struggles | Stellantis
Jeep, Fiat and Peugeot car maker Stellantis announced on Sunday that Carlos Tavares will step down as chief executive and aim to find a new leader in the first half of next year. Tavares, previously considered one of the auto industry's most respected executives, said earlier this year that Stellantis issued a profit warning for […]
Stellantis to Close Arizona Testing Site After Laying Off Michigan Auto Workers
Stellantis laid off more than 1,000 auto workers at its Warren, Mich., plant this month and about 200 auto workers at its Sterling Heights, Mich., plant last month, followed by the company's largest auto test in Yucca, Ariz. Close the facility. Stellantis plans to sell the testing site and lay off dozens of workers. According […]
Stellantis Recalls 1.5 Million Ram Pickups to Fix Software Problem
Automaker Stellantis is recalling more than one million Ram pickups due to an issue related to the electronic stability control (ESC). The recall affects about 1.5 million trucks that are at risk of developing a software issue that could disable the ESC, Fox Business Reported Saturday. The recalled vehicles are primarily produced in North America […]
Stellantis recalls nearly 1.5M Ram trucks over stability issue
Jeep maker Stellantis is recalling about 1.5 million Ram pickup trucks over a software issue affecting the electronic stability control system. The recall covers truck models from 2019 and 2021 through 2024. This is a global recall but primarily affects North America. The Associated Press reported. In a statement on Saturday, the automaker said the […]
Stellantis to shed more than 2,400 workers over discontinued Ram truck
Jeep maker Stellantis, one of the Big Three automakers, plans to lay off about 2,450 workers later this year at its defunct Ram 1500 Classic plant outside Detroit. “With the introduction of the new Ram 1500, production of the Ram 1500 Classic at the Warren plant will be [Michigan] The truck assembly plant is scheduled […]
Stellantis to cut nearly 2.5K union workers as Ram Classic truck production ends
Chrysler’s parent company, Stellantis, will lay off up to 2,450 factory workers at its Warren Truck Assembly Plant outside Detroit as production of the Ram 1500 Classic truck ends. The company said the job cuts will take effect as early as Oct. 8 as the plant’s general assembly operations move from two shifts to one. […]