The car manufacturer Stellantis announced on the night of Thursday to Friday October 11 the retirement at the beginning of 2026 of its boss Carlos Tavares, as well as changes with immediate effect of several managers of the group.
The group has notably appointed Doug Ostermann, until now director of operations in China, to the position of financial director where he will replace Natalie Knight. The latter, specifies Stellantis in a press release, will leave the group.
“Targeted organizational changes”
“In order to simplify and improve the performance of your organization in a turbulent global environment”the Franco-Italian-American group decided to operate “targeted organizational changes that come into effect immediately within its management team”specifies the press release.
It is, he continues, “refocus the company on its main operational priorities and decisively tackle the global challenges facing the automotive sector”.
In October, during a visit to the historic Peugeot factory in Sochaux (eastern France), Carlos Tavares indicated that he could retire in January 2026.
A “reasonable age” to retire
“In 2026, the person answering you will be 68 years old, which is a reasonable age to retire. This is the option »he told journalists.
The group indicated in its press release that the process of identifying his successor at the end of his mandate, in January 2026, was now formally launched.
It has been entrusted to a special committee of the board of directors chaired by John Elkann, which is expected to complete its work in the fourth quarter of 2025.
Stellantis was formed from the merger in 2021 of Peugeot-Citroën and Fiat-Chrysler.
In electronic trading after the markets closed, Stellantis shares rose 0.36% on the New York Stock Exchange.
