Stellantis CEO Carlos Tavares to retire, his successor to be named at a later date
Global automaker Stellantis has confirmed that his long-tenured CEO, Carlos Tavares, will retire when his current contract expires in early 2026. The news was joined by additional executive shakeups as Stellantis has named new chiefs for its European and North American operations as well.
Carlos Tavares has been a mainstay in the global automotive industry well before Stellantis existed in its current iteration. The Portuguese executive joined Renault at an early age in the 1980s before working for Nissan in the mid-2000s through its alliance with Renault (now the Renault-Nissan-Mitsubishi alliance).
In 2011, Tavares worked underneath Carlos Ghosn as the chief operating officer of Renault before butting heads with the controversial CEO and leaving the company in 2013. A year later, Tavares was back in the industry as CEO and chairman of the managing board of Peugeot S.A., where he led the acquisition of Opel and spearheaded the merger with Fiat Chrysler that would eventually evolve into Stellantis.
Carlos Tavares was the first-ever CEO of Stellantis and has held the reigns since, finding plenty of success while also putting his foot in his mouth on several occasions, especially as the industry continues to shift toward going all-electric.
Following rumors that began to swirl this past September, Stellantis has confirmed the Tavares era will come to an end when the CEO’s current contract expires, and it now has about one year to name his successor.
Stellantis to name its next CEO by late 2025
As reported by Automotive News Europe, Stellantis has confirmed current CEO Carlos Tavares will step down and retire when his contract expires in early 2026. The news follows previous reports that the automotive conglomerate was searching for a successor. However, Stellantis said there was still a chance Tavares could continue as its chief operating officer after his contract expires.
Per Stellantis, chairman John Elkann is leading a special committee overseeing the search to find a successor to Tavares and expects to name that individual by Q4 2025.
While we await that news, Stellantis has announced several other personnel changes effective immediately. Jean-Philippe Imparato has been appointed chief operating officer for Stellantis Europe and will remain CEO of the Pro One LCV division. He will replace current COO Uwe Hochgeschurtz, who is leaving the company.
Santo Ficili will take over as CEO of Alfa Romeo and Maserati, inheriting the previous leadership roles of Imparto and Davide Grasso, respectively. Stellantis has not announced Grasso’s next position or whether he will remain with the company.
Current Jeep CEO Antonio Filosa will take on a new dual role that now includes chief operating officer of Stellantis North America, taking over for Carlos Zarlenga, whose next role has yet to be shared publicly.
Looking back, Tavares’ run as CEO of PSA and Stellantis features plenty of success and leadership. However, recent years have proven more challenging for the world’s fourth-largest automaker, especially sales in North America.
The company recently lowered its annual forecast from positive cash flow to negative, sending its stock tumbling. While the prospect of fresh leadership at the CEO may help ease investors’ worries, the immediate executive shakeups (21 senior management changes in the last 12 months) exemplify a struggling company’s efforts to find its footing.
Despite Tavares’ waffling over EV adoption, he helped set Stellantis on a path to make 100% of its passenger car sales in Europe and 50% of passenger cars and light-duty trucks in the US to be EVs by 2030. Stellantis and Tavares’ successor must pick up the pieces and push forward when the current CEO retires.
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Chevron is not seeing signs that the U.S. is close to a recession even as President Donald Trump’s tariffs weigh on expectations for oil demand, CEO Mike Wirth said Tuesday.
“There’s no signs that we see at this point that we are in or close to a recession,” Wirth told CNBC’s “Squawk Box.” “There are signs that growth may be slowing and we have to always be prepared for that.”
The International Monetary Fund on Monday cut its growth outlook for the U.S. this year to 1.8%, down from 2.7% previously.
The oil market is expecting reduced demand as a consequence of Trump’s tariffs and the decision by OPEC+ increase production faster than expected, Wirth said. Chevron isn’t changing its capital spending plans in response to drop in prices, the CEO said.
U.S. crude oil prices have fallen about 11% since Trump announced his tariffs on April 2. West Texas Intermediate was last up about 72 cents at $63.80 per barrel. OPEC and the International Energy Agency have cut their demand outlooks for this year.
Wirth said U.S. onshore oil production in patches like the Permian Basin is likely to pull back if prices hit $60 per barrel. Offshore production likely won’t be affected, he said.
“That’s an area where if we were to be at a $60 price or even lower you’re likely to see activity pull back in this sector and you’ll see the production response over a few months,” Wirth said. “That’s what we should watch, not so much the deep water activity.”
Chevron is not expecting a major direct impact on its business from Trump’s tariffs as energy has largely been exempt from the levies, Wirth said.
“The effects that we feel are likely to be more the macroeconomic effects as they flow through the economy,” Wirth said. “The bigger issues would be what would it mean for growth, and global trade and how does that evolve.”
Executives at oil and gas companies were scathing in their criticism of Trump’s tariffs in an anonymous March survey by the Federal Reserve Bank of Dallas, warning that steel tariffs were raising their costs and low prices could impact their activity.
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Little is known about super-secretive EV startup Slate, but the fledgling brand is rumored to be backed by Jeff Bezos and determined to shake up the existing electric order with an affordable lineup of compact SUVs and pickups with that golden $25,000 price tag.
Now, at least, we know what it’s gonna look like. The battle of the billionaires is on!
Redditor jonjopop over at the spotted subreddit spotted what looks like an early prototype of an unbranded SUV with bizarre “CryShare” wrap. CryShare, as a concept, seems to combine the functionality of a ride sharing app like Uber or Lyft with the familiar (to parent, anyway) idea that small babies will often sleep better in a moving car than in their own cribs … but that’s not what’s important here.
Instead, focus on the vehicle itself – parked on Abbot Kinney Boulevard in Los Angeles without explanation or fanfare, this is our best look yet at the kind of vehicle(s) Slate is likely to reveal in the coming days.
Stumbled upon the Bezosmobile [Slate Automotive…idk?] being revealed with an absolutely bizarre marketing campaign
byu/jonjopop inspotted
Other local automotive journalists caught wind of the public unveiling, too – and our friends at The Autopian (Hi, Matt!) sent their own David Tracy out on the streets of LA to check it out. Tracy took the following video and posted it to Instagram.
The Slate breaking cover and causing buzz just ahead of what’s sure to be a painful Q1 earnings call for Tesla is a masterstroke of marketing – especially as doubts surrounding the viability of a “less expensive” Tesla Model Y or Model 3 continue to mount amid the uncertainty of Trump’s tariffs and declining sales of the brand’s more profitable models both at home and abroad.
As with so much involving Slate, however, there is nothing here written in stone – or even cast in cheese. Nothing has been announced, nothing is promised, and for all we know this might have more to do with the affordable Rivian brand launch, a new BYD, or be a viral marketing bit from some local Art Center design student in (relatively) nearby Pasadena. In fact, about the only thing I think we can say about Bezos (?) new Slate project with confidence today is this: Elon could probably use that drink.
SOURCES | IMAGES: Reddit, The Autopian.
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