Italian lawmakers on Friday questioned the head of Stellantis, the world's fourth largest automaker, over the group’s strategy, one day after it announced a management shakeup in an effort to revive sales. Stellantis, which makes Jeep and Chrysler vehicles, is struggling globally, with the Italian government demanding clarity about its production plans for the country. Speaking in front of a parliamentary committee on Friday, Stellantis CEO Carlos Tavares stressed that European Union carbon emission rules impose 40% higher costs on the struggling car-making industry.
Stellantis the parent company of automobile brands Dodge, Jeep, and Chrysler, is taking drastic steps to reverse a 45% slide in its share price since the start of the year. On Thursday, the company said Chief Financial Officer Natalie Knight will leave the firm and be succeeded by Doug Ostermann. It also named new chief operating officers for North America, Europe, and China.
Stellantis (STLA) has announced that CEO Carlos Tavares will retire at the end of his contract in early 2026. This comes just a day after the company ousted CFO Natalie Knight. Catalysts Hosts Seana Smith and Madison Mills report more on the leadership shakeup as Stellantis looks to turn around its performance in North America. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Melanie Riehl