Stellantis NV CEO Carlos Tavares is stepping down earlier than anticipated as differing views on the carmaker's future led to tensions with the board and shareholders.
The automaker, which has been battling a slumping market amid economic slowdowns and trade threats, saw its shares plunge 38% in the last year.
Despite efforts to cut costs and regain control by Tavares, Stellantis remains challenged by weak demand and an outdated vehicle lineup, affecting market share.
The company confirmed its financial guidance even as it acknowledged significant investor concerns following Tavares's profit and cash flow warnings.
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