Carlos Tavares indicated on Thursday that he could retire in January 2026, at the end of his first term at the head of the Stellantis automobile group.
“In 2026, the person who answers you will be 68 years old, it is a reasonable age to retire. It is the option,” Carlos Tavares told journalists, after a visit to the historic Peugeot factory in Sochaux (Doubs).
“If you ask my wife, she will tell you that it is a requirement on her part. “I am a good husband,” added the CEO of Stellantis.
Carlos Tavares helped found this group in 2021 with the merger of PSA (Peugeot-Citroën) and FCA (Fiat-Chrysler). The French-Italian-American automobile group has begun a succession process, as is “normal” for a group of this importance, the company indicated at the end of September.
A “long-planned” Stellantis board meeting is due to take place in the coming days at the group’s US headquarters in Auburn Hills, near Detroit, with this issue on the agenda.
Stellantis in crisis
Stellantis on Monday announced a significant downward revision to its 2024 operating margin target, now estimated at between 5.5% and 7% compared to previous “double figures.”
The fifteen-brand automaker, which has had a streak of record quarters, finally took note of an overall “deterioration” in the auto market, with annual sales forecasts lowered to market level, taking into account an “increase in ‘supply’ and “increased Chinese competition.”
Above all, the group has launched several expensive operations since the beginning of 2024 to restore its sales in North America, which traditionally generates most of its profits with its Ram, Chrysler or Dodge brands.
Carlos Tavares, born in 1958, lives between France and Portugal, where he owns vineyards and a garage for vintage cars.
Source: BFM TV
