Stellantis, seeking to revive sales, makes some leadership changes

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Stellantis, which makes Jeep and Chrysler vehicles, announced a number of significant leadership changes on Thursday, including the timing of CEO Carlos Tavares’ retirement and the departure of its chief financial officer, as it struggles to revive sales in North America.

Chief Financial Officer Natalie Knight will be replaced by Doug Ostermann, the company’s chief operating officer in China. In addition to naming Ostermann’s replacement in China, Stellantis also appointed a new chief operating officers in North America and in Europe.

Stellantis is the world’s fourth largest automaker and in September it announced that it was looking for a successor for Tavares, 66, as part of a planned leadership change. Tavares’ five-year contract was a little more than a year from its expiration date in 2026, but the company said at the time that it was possible he might remain in the job beyond that.

Stellantis has about 11,000 salaried workers in the U.S. at 20 plants, including four in operation in Indiana—all in Kokomo—that employ more than 6,000 workers.

The company said late Thursday that Tavares will step down in early 2026.

Tavares has been under fire from U.S. dealers and the United Auto Workers union after a dismal financial performance this year, caught off guard by too many high-priced vehicles on dealer lots. Tavares has been trying to cut costs by delaying factory openings, laying off union workers and offering buyouts to salaried employees.

Stellantis slashed its earnings forecast last month, saying it needed to make larger investments to turn around its U.S. operations amid a wider industry slump and increased competition from China.

Stellantis said at the time that it was accelerating efforts to improve operations in North America, bringing dealer inventory levels to no more than 300,000 vehicles by the end of the year, instead of the first quarter of 2025 as previously planned.

Stellantis was created in 2021 through the merger of PSA Peugeot and Fiat Chrysler Automobiles. It said in a statement that the formal process to find Tavares’ successor has already begun. The process is being led by a special committee of the board and will finish its work by the fourth quarter of 2025.

Shares of Stellantis fell nearly 5% at the opening bell Friday.

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2 thoughts on “Stellantis, seeking to revive sales, makes some leadership changes

  1. I just don’t have any confidence in Chrysler, Dodge, and Jeep until they’re liberated from Stellantis. Ford and GM learned long ago that having several brands – or 14 in the case of Stellantis – is just too much to handle. And the whole foreign ownership thing isn’t great either.

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