Stellantis CEO Carlos Tavares is reportedly considering retiring as early as 2026, at the age of 68.
Carlos Tavares has been at the head of the PSA group for ten years, then of Stellantis, the result of the merger with FCA.
Carlos Tavares on departure
And now the latter has just hinted that he could retire in January 2026, at the end of his current mandate at the head of the automobile group. During an interview with BFM Business after a visit to thehistoric Peugeot factory in Sochaux, in Doubs, Tavares mentioned this possibility in terms which left little room for doubt. “In 2026, the person speaking to you will be 68 years old, which is a reasonable age to retire. It’s an option,” he declared, responding to a question about his future within the group. He added lightly that his wife played a role in this decision: “If you ask my wife, she will say it is a requirement on her part. I’m a good husband,” he joked, suggesting that personal considerations could also weigh in. However, this statement does not mean a definitive decision, but it highlights that the leader is aware of the moment when he could hand over the reins after an already long career.
A difficult situation
Carlos Tavares is a key player in the global automotive industry. He was one of the main architects of the creation of Stellantis in 2021, the result of the merger between PSA (Peugeot-Citroën) and FCA (Fiat-Chrysler). This merger gave birth to one of the largest automobile manufacturers in the world, with fifteen brands under its umbrella, including Peugeot, Citroën, Fiat, Chrysler, Jeepand Maserati. However, the recent economic outlook seems bleaker for the group. And for good reason, Stellantis has announced a downward revision of its operating margin objectives for the year 2024. The Franco-Italian company is now counting on a margin of between 5.5% and 7%, compared to an objective of two figures previously announced. This decline reflects a “deterioration” of conditions in the global automobile market, in particular due to increased competition from Chinese manufacturers and oversupply in the sector. Note that all brands are globally affected.
A meeting of the Stellantis board of directors is planned in the coming days in Auburn Hills, near Detroit.
Source: www.autoplus.fr
