**Stellantis CEO Carlos Tavares Refreshes Leadership Amid Mounting Challenges**

Stellantis CEO Carlos Tavares, speaking at a roundtable event during the Paris Motor Show, addressed the recent major leadership changes within the automaker. Facing increasing pressure to improve the company's performance, Tavares expressed his expectations for the new team to tackle profitability, market share, and customer satisfaction issues more effectively.

Last week, Stellantis appointed Antonio Filosa, previously the head of Jeep, as the new Chief Operating Officer for North America and Doug Ostermann, formerly Stellantis China's Chief Operating Officer, as the Chief Financial Officer for the entire company. These appointments come as Stellantis struggles, particularly in the U.S. market, with declining sales, high inventory levels, disputes with the United Auto Workers (UAW), and concerns from U.S. dealers. These challenges have forced Tavares to rethink the company's direction and leadership.

During the event, Tavares highlighted the current inventory problems, attributing them to a flawed marketing strategy in the U.S. for the second quarter of 2024. "We were stumbling on the poor Q2 2024 marketing plan that created an inventory issue with the dealers," he said. Tavares emphasized that the company is actively addressing these issues by reducing inventory by 52,000 vehicles over the past three months, with a goal to bring dealer inventories below 330,000 vehicles by Christmas.

Tavares also mentioned the autonomous nature of the company's regions, suggesting that the failed marketing plan originated from regional decisions. Reflecting on the urgency of the situation, he shared how dealers have been struggling, with some resorting to "heavy, heavy discounts" to clear the excess supply of vehicles.

Looking ahead, Tavares addressed his upcoming retirement in 2026, coinciding with the end of his current contract. He revealed that he will retire after spending 45 years in the automotive sector and will be involved in selecting his successor, though he refrained from discussing specific qualifications to prevent speculation.

Additionally, Tavares underscored the importance of addressing climate change, sharing a personal story about his daughter encountering a forest fire in Portugal. He emphasized the need for Stellantis to contribute to combating global warming, rejecting calls from European dealers to delay stringent emissions targets set for next year.

"We have the technology, we have the platforms, we have the products, we have the capacities," Tavares said, reaffirming Stellantis' commitment to meeting these tough environmental regulations.