Putting Your Name on This List Could Hand You $1,270 on Friday

URGENT: On Tuesday, a simple set of instructions will be sent out to an elite group of investors. The folks in this group will have the opportunity to place a 10-minute trade that could double their money by Friday. Consider this your invitation to join them. The next trade is just days away.

Stellantis, seeking to revive sales, makes some leadership changes

MICHELLE CHAPMAN
October 11, 2024

Stellantis, which makes Jeep and Chrysler vehicles, announced a number of significant leadership changes, including the timing of CEO Carlos Tavares' retirement and the departure of its chief financial officer as it struggles to revive sales in North America.

Chief Financial Officer Natalie Knight will be replaced by Doug Ostermann, the company's chief operating officer in China. In addition to naming Ostermann's replacement in China, Stellantis also appointed a new chief operating officer in Europe.

Stellantis is the world's fourth largest automaker and in September it announced that it was looking for a successor for Tavares, 66, as part of a planned leadership change. Tavares’ five-year contract was a little over a year from its expiration date in 2026, but the company said at the time that it was possible he might remain in the job beyond that.

The company said late Thursday that Tavares will step down in early 2026.

Tavares has been under fire from U.S. dealers and the United Auto Workers union after a dismal financial performance this year, caught off guard by too many high-priced vehicles on dealer lots. Tavares has been trying to cut costs by delaying factory openings, laying off union workers and offering buyouts to salaried employees.

Stellantis slashed its earnings forecast last month, saying it needed to make larger investments to turn around its U.S. operations amid a wider industry slump and increased competition from China.

Stellantis said at the time that it was accelerating efforts to improve operations in North America, bringing dealer inventory levels to no more than 300,000 vehicles by the end of the year, instead of the first quarter of 2025 as previously planned.

Stellantis was created in 2021 through the merger of PSA Peugeot and Fiat Chrysler Automobiles. It said in a statement that the formal process to find Tavares’ successor has already begun. The process is being led by a special committee of the board and will finish its work by the fourth quarter of 2025.

Shares of Stellantis fell more than 3% before the market opened on Friday.

Continue Reading...

Popular

Nearly 4 Million Manufacturing Jobs Are Opening As Boomers Retire—But Gen Z Is Not Interested

US manufacturing jobs expected to grow by 3.8 million by 2033, but Gen Z shows low interest due to low pay, safety concerns, and preference for trades.

Trump Administration To Lay Off Nearly 90% Of CFPB Employees In Major Downsizing: Report

The Trump administration is cutting nearly 90% of CFPB's staff and shifting focus from consumer financial protection to fraud.

Elon Musk Drops Stunning Bombshell? - Ad

Behind closed doors, Musk revealed a game-changing breakthrough technology that could shake the tech world & crush major companies. Why is no one talking about it? Luckily, we had a man on the inside - watch now to see the details & how to profit!

Warren Buffett Dislikes Bitcoin—But Berkshire Hathaway Finds Itself Linked To BTC ETFs Through One Of Its Biggest Holdings

Warren Buffett's anti-Bitcoin (CRYPTO: BTC) rhetoric has long been discussed in market circles, with many trying to comprehend why one of the world's most valuable assets failed to impress the "Oracle of Omaha."

New US ambassador to Japan says he is optimistic the two sides will reach a deal over tariffs

TOKYO (AP) — The new U.S. ambassador to Japan arrived in Tokyo on Friday and said he is optimistic that his country and its key Asian ally will reach a deal in their ongoing tariff negotiations.

Nvidia Is About to Shock the World: April 23rd - Ad

Jeff Brown, the tech legend who picked shares of Nvidia in 2016 before they jumped by more than 22,000%, is warning everyone to... Mark this date on your calendar: April 23rd! That's when Nvidia could help send shares of this Elon Musk supplier skyrocketing higher.

Intel CEO Lip-Bu Tan Slams 'Suffocating' Bureaucracy — Puts AI Front And Center With Leadership Reshuffle: 'Want To Roll Up My Sleeves…'

Intel CEO Lip-Bu Tan has announced a major leadership reshuffle, focusing on artificial intelligence and streamlining operations, as the company works to address past challenges and regain its competitive edge in the AI chip market.

The US has a single rare earths mine. Chinese export limits are energizing a push for more

OMAHA, Neb. (AP) — America’s only rare earths mine heard from anxious companies soon after to President Donald this month by limiting exports of those minerals used for military applications and in many high-tech devices.

Tiny AI Firm Could Outperform NVIDIA - Ad

The Fear & Greed Index shows "extreme fear"--precisely when life-changing wealth is created for those with the right strategy. My elite research team has broken down exactly how to identify the coins with highest rebound potential in this artificially suppressed market.

Elon Musk's Tesla Reportedly Manipulating Odometers To Dodge Warranty Repairs

Tesla is facing lawsuit over odometer manipulation. Plaintiff claims premature warranty expiration, seeking damages for California Tesla drivers.

Asian markets are mostly higher as Wall Street is stuck in trade war doldrums

BANGKOK (AP) — Asian shares are mostly higher in thin Good Friday trading after a bumpy ride on Wall Street, where the Dow industrials lost 1.3% as UnitedHealth lost more than a fifth of its value due to a weaker-than-expected profit report.

New Study: 50 Stocks Will Crash While 7 MAGA Stocks Will Soar - Ad

If you own any of these stocks -- directly or through mutual funds -- I want to encourage you to sell them before April 30th. I've compiled all 50 companies in my "MAGA Blacklist" report. Your retirement could depend on seeing this list.

Intel Shares Have Dropped 47% In The Past Year, Now Chipmaker Faces China AI Chip Curbs Just Like Nvidia Amid Trade Tensions

Intel has joined Nvidia in facing new U.S. export restrictions on AI chips to China, contributing to a nearly 47% drop in its stock over the past year amid escalating U.S.-China trade tensions.

PayPal, Bill Holdings Downgraded As Analyst 'Loses Confidence'

Analyst Cantwell lowers price targets for fintech companies ahead of earnings due to expected impact of tariffs. Downgrades PYPL and BILL.

The Most Important "AI Stock" You've Never Heard Of - Ad

The AI revolution is moving faster than anyone expected. But what no one is talking about is the one company AI simply can't exist without. It may be the single most important AI investment, yet most people don't even know its name. For now. The moment Wall Street catches on, this $20 stock could explode.

Why Cannabis Co. Tilray (TLRY) Is Trading Down Today

Tilray shares fall 6.8% after announcing a proposed reverse stock split ahead of a June 10 shareholder vote.

Danger: Your Favorite Stocks "Running on Empty" - Ad

Nvidia is down bad this year (-20% YTD). Most investors were probably blindsided by it... But if you were looking at this obvious warning sign, you could have been tipped off to the drop.

Bitcoin Is the 'Cleanest Trade' Since 'You Can't Tariff Bitcoin,' Expert Says

Bitcoin's (CRYPTO: BTC) may be setting up for a breakout moment, with Felix Jauvin dubbing it the “cleanest trade after the trade."

Trump to Unlock 15-Figure Fortune for America (May 3rd)? - Ad

This map looks ordinary--but according to insider Jim Rickards, it reveals a hidden government asset so massive . Trump may soon unlock it--learn how to position yourself before it's too late!

Japan reports a $63 billion trade surplus with the US as it talks with Trump on tariffs

TOKYO (AP) — Japan recorded a trade deficit in its March-April fiscal year but racked up a surplus with the U.S., the Finance Ministry reported Thursday.

Charlie Munger Once Said Warren Buffett Is A 'Learning Machine' And That's What Lies Beneath Berkshire Hathaway's Success From One Decade To Another

In his 2007 USC speech, Charlie Munger highlighted Warren Buffett's lifelong learning as the key to Berkshire Hathaway's success, stressing that continuous education is essential for long-term growth and achievement.

Biggest Dividend Payout in U.S. History: $1 Trillion up for Grabs! - Ad

Trump just launched a $1 trillion National Investment Fund to replace income taxes and send direct payouts to Americans. You could claim up to $21,307--before the first public checks go out. This is historic. Act now to be first in line.

How war, money and the quest for discovery entwined the US government and universities

NEW YORK (AP) — The between the Trump administration and Harvard University is spotlighting and big dollar figures. But in the battle of the moment, it’s easy to lose sight of a decades-long alliance between the U.S. government and the nation’s most prominent universities, forged to fight a world war.

Visa cancellations sow panic for international students, with hundreds fearing deportation

WASHINGTON (AP) — At first, the bar association for immigration attorneys began receiving inquiries from a couple students a day. These were foreigners studying in the U.S., and they'd their legal status had been terminated with little notice. To their knowledge, none of the students had committed a deportable offense.

Out of 23,281 Stocks... This Is the Only One - Ad

Out of 23,281 stocks, one stands out - wildly profitable, deeply undervalued. It generates $1B+ more cash than AMD, yet trades 20x cheaper. Backed by Trump and partnered with a top AI firm, this could be the stock to own now.

Trump Administration Halts $2.2 Billion In Harvard Grants After University Says Don't Dictate What We Can Teach Or Who We Admit

The Trump administration suspended $2.2 billion in grants to Harvard after the university refused to eliminate DEI programs and screen international students for ideological views, putting nearly $9 billion in federal funding at risk.

OpenAI picks labor icon Dolores Huerta and other philanthropy advisers as it moves toward for-profit

OpenAI has named labor leader Dolores Huerta and three others to a temporary advisory board that will help guide the artificial intelligence company's philanthropy as it attempts to shift itself into a for-profit business.

Maverick Trader Reveals 97% Accurate System - Ad

This man's simple strategy makes money in any market...With a 97% accuracy at hitting winners over the past 8 years!

Powell says Federal Reserve can wait on any interest rate moves

WASHINGTON (AP) — The Federal Reserve can stay patient and wait to see how tariffs and other economic policies of the Trump administration before making any changes to interest rates, Chair Jerome Powell said Wednesday.

Paige Bueckers talks about her investment stake in Unrivaled league on 'Good Morning America'

NEW YORK (AP) — Paige Bueckers is ready to start not just her WNBA career with the Dallas Wings but her career as a businesswoman as well.

Putting Your Name on This List Could Hand You $1,270 on Friday - Ad

URGENT: On Tuesday, a simple set of instructions will be sent out to an elite group of investors. The folks in this group will have the opportunity to place a 10-minute trade that could double their money by Friday. Consider this your invitation to join them. The next trade is just days away.

Trump Administration Asks IRS To Revoke Harvard's Tax-Exempt Status After President Accuses Ivy League University Of Pushing 'Sickness'

On Wednesday, The Trump administration has asked the IRS to revoke Harvard's tax-exempt status after Trump accused the university of promoting political and extremist ideologies.

Can the IRS revoke Harvard's tax-exempt status?

For more than a century, the majority of colleges and universities have not paid most taxes. The Revenue Act of 1909 excused nonprofits operating “exclusively for religious, charitable, or educational purposes” in order to continue acting in the public interest.

Trump Signals "End of M.A.G.A." - Ad

Trump's new mission: Make America Wealthy Again. And according to ex-CIA advisor Jim Rickards, the U.S. is sitting on a $150 trillion fortune--enough to make every family millionaires. Discover how this hidden wealth could soon change everything.

Big Bank CEOs Weigh In On Trump's Turbulent Economy

Several CEOs of the largest U.S. banks have recently expressed concerns about the economic fallout, market volatility and broader uncertainty resulting from President Donald Trump's new trade policies. 

Elon's Greatest Invention... Hidden in South Memphis? - Ad

Tech legend Jeff Brown recently traveled to the industrial zone of South Memphis to investigate what he believes will be Elon's greatest invention ever... Yes, even bigger than Tesla or SpaceX.

Here's a look at recent aircraft tragedies, mishaps and close calls

The killed all six on board — a physician couple and their accomplished children and partners — during a family trip to the Catskills.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright markethundred.com
Privacy Policy | Terms of Service