Reported 1 day ago
Outgoing CEO Carlos Tavares struggled with Stellantis' board regarding his strategy to swiftly revive the struggling U.S. operations through cost cuts, rather than a long-term plan. His resignation raised concerns among investors, highlighted by a significant drop in shares as they worried about the automaker's direction amidst increasing competition and mismanagement of inventory. Tavares' focus on immediate solutions allegedly strained relationships with U.S. dealers, the UAW union, and investors, leading to a deepening crisis as the company approaches key regulatory deadlines in the electric vehicle space.
Source: YAHOO