Stellantis CEO to retire in 2026 as automaker struggles in North America
CNN
Chrysler parent Stellantis confirmed on Thursday that CEO Carlos Tavares would retire at the end of his contract in early 2026 and announced major senior management changes as it struggles to turn around its lagging North American operations.
Chrysler parent Stellantis confirmed on Thursday that CEO Carlos Tavares would retire at the end of his contract in early 2026 and announced major senior management changes as it struggles to turn around its lagging North American operations. Earnings and sales in the French-Italian automaker’s traditional profit powerhouse have been declining, forcing it to last week cut its 2024 profit forecast and signal possible reductions to its dividend and share buybacks next year. Analysts have downgraded the company’s stock, which has tumbled 42% this year after missteps in North America, where sales of popular products such as its Jeep and Ram trucks typically produce much of its profits. The confirmation of Tavares’ retirement plans comes weeks after Stellantis (STLA) said it was searching for his successor, though at the time it said it was possible he could remain after his contract expires. The world’s fourth-largest automaker by sales said it now planned to name his successor by the fourth quarter of 2025. Stellantis appointed Doug Ostermann, the former chief operating officer of its China division, as its finance chief, replacing Natalie Knight who is leaving the company. The automaker also appointed Antonio Filosa as its North America chief operating officer in addition to his role as Jeep brand CEO, succeeding Carlos Zarlenga, whose future role has not been announced.
Veteran Fox News anchor Neil Cavuto, one of the network’s longest-serving hosts who became a frequent target of President-elect Donald Trump, is leaving the network after nearly three decades on the air.
The press freedom group Reporters Without Borders is urging Apple to remove its newly introduced artificial intelligence feature that summarizes news stories after it produced a false headline from the BBC.
Musk’s unprecedented online influence appeared to fully torpedo the government spending bill in a way no Republican lawmaker could have done from inside Capitol Hill.
On the day after Easter 2023, Dana Mitchell went to work, grabbed a coffee and walked to the conference room for the regular Monday morning meeting. She was talking to a co-worker about his tan from a vacation.
Members of the Teamsters union went on strike at against Amazon early Thursday in a labor action set to spread to six facilities in four states coast to coast.
The Federal Reserve has now cut its key overnight lending rate three times in a row this year. And the effect has been a mixed bag for consumers.
When a CNN journalist called 1-800-CHATGPT, a female voice on the other end was able to provide a recipe for a chocolate chip cookie and recite a paragraph summarizing the Civil War. But it did not seem to be open to personal conversations.
Traditional crafts are an important part of Uzbekistan’s identity. Now some young Uzbeks are selling handicrafts, from textiles to ceramics, on Etsy, Instagram and eBay.
The US Department of Justice announced a lawsuit on Wednesday accusing pharmacy chain CVS of filling illegal opioid prescriptions and billing federal health insurance programs, contributing to a nationwide epidemic of opioid addiction and overdose.
The last time the Dow fell for 10 days in a row, Gerald Ford was president. But the Dow on Wednesday is in danger of matching that dubious 50-year milestone.
The Federal Reserve on Wednesday cut interest rates by a quarter point, the third rate cut since it began to lower borrowing costs in September.