Stellantis, board and Tavares at odds over short-term priorities - Cfo
December 04, 2024 at 04:23 pm
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The disagreements between Carlos Tavares and members of the Stellantis board, which led to the CEO's sudden resignation, were mainly about priorities for the next 15 months and how the automaker relates to its stakeholders.
This was said by the automaker's Cfo Doug Ostermann at a Goldman Sachs virtual conference. This is the first public speech by a top Stellantis manager since Tavares' resignation last Sunday.
Stellantis, however, has seen no major changes in its long-term strategy, including a move to develop multi-energy platforms, capable of supporting vehicles with different types of propulsion.
(Giulio Piovaccari, translated by Laura Contemori, editing Sabina Suzzi)
Carlos Tavares is a Portuguese businessperson who has been at the head of 7 different companies and holds the position of Chief Executive Officer & Executive Director at Stellantis NV and Chairman at Peugeot Citroën Automobiles SA (a subsidiary of Stellantis NV). Mr. Tavares is also on the board of Airbus SE and Airbus Holding SA and Chairman at Fondation PSA Peugeot Citroën.
Mr. Tavares previously held the position of President of European Automobile Manufacturers Association, Chief Operating Officer of Renault SA, Director at Nissan Motor Co., Ltd. and Chairman & President for Nissan North America, Inc. (a subsidiary of Nissan Motor Co., Ltd.), General Manager-Micro Enterprise at Bed & Breakfast Association of Kentucky, Member-Managing Board at Renault-Nissan-Mitsubishi Alliance, Chairman-Supervisory Board at Opel Automobile GmbH and Chairman-Management Board at Peugeot SA.
Mr. Tavares received an undergraduate degree from École Centrale Paris.
Stellantis N.V. is one of the world's leading car manufacturers. The activity is essentially organized around 4 sectors:
- sales of passenger cars and light commercial vehicles: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys brands;
- sale of luxury vehicles: Maserati and DS Automobiles brands;
- sale of automotive equipment: interior systems, car seats, car exteriors, emission control systems, etc.;
- other: sales financing services (purchase, rental, leasing, etc.), after-sales services, etc.; - other: sales financing services (purchase, rental, leasing, etc.).
Net sales are distributed geographically as follows: the Netherlands (0.8%), North America (46.7%), France (9.5%), Brazil (7.3%), Italy (6.2%), Germany (5.5%), the United Kingdom (4.4%), China (0.6%) and other (19%).
