Carlos Tavares, known for his strong leadership and driving style, was ousted from Stellantis due to discord regarding profit strategies in a challenging auto market.
After his departure, Stellantis revealed it would face a significant financial setback, with an expected loss of between 5 billion to 10 billion this year, attributed to high inventory and delays.
Tavares's approach was shaped by Carlos Ghosn's ruthless cost-cutting strategies, yet the Stellantis board favored a more cautious approach, fearing immediate cuts would cause long-term issues.
Stellantis's shares dropped over 6% post-announcement of Tavares's resignation, reflecting investor concerns about the company's future performance amid rising competition and shifting market demands.
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