Reported about 2 months ago
Stellantis CEO Carlos Tavares is set to visit Detroit this week to address the company's declining profits in North America. With a 40% drop in operating income, primarily from high vehicle inventories and low sales, the visit aims to reassure employees and investors while formulating a corrective strategy. Tavares acknowledges the need for more pragmatic pricing and operational efficiency, as investor concerns and employee tensions rise amidst recent layoffs and a pending lawsuit from shareholders.
Source: YAHOO