Carlos Tavares will leave Stellantis in 2026

After his current term as CEO, which runs until early 2026, the now 66-year-old Portuguese will retire. Stellantis has already initiated a procedure led by chairman John Elkann to appoint a successor, the manufacturer said.

Stellantis confirmed Tavares’ pension plans on the sidelines of an announcement about management shifts. The musical chairs follows disappointing results for the car manufacturer, especially in North America, and a cut in profit expectations.

New directors

The group appoints a new financial director, Doug Ostermann, among others. He succeeds Natalie Knight, who was appointed last year, who is leaving the company. In addition, Stellantis appointed new directors in Europe and North America.

Stellantis was created in 2021 from the merger between PSA (including Peugeot, Citroën, Opel) and FCA (including Fiat, Alfa Romeo, Chrysler, Jeep).