According to the latest rumors from Italian media, Stellantis CEO Carlos Tavares might leave his position as head of the automotive group before the end of his contract, which expires in early 2026. According to these rumors, Stellantis Chairman John Elkann is reportedly trying to accelerate the current CEO’s departure, who would receive a 100 million euro severance package and a stake in Maserati.
Will Carlos Tavares leave Stellantis before the end of his contract?
Obviously, these are merely rumors. According to the Italian media, a solution could be found by the end of 2024. There is no certainty yet about the Portuguese manager’s successor, but speculation has already begun.
Currently, Luca De Meo, Renault‘s current CEO, is one of the favored candidates, with the possibility of joining Stellantis or even leading a merger between the two groups, although this has recently been denied by the leadership of both automotive groups. Mike Manley, former FCA and Stellantis executive currently at AutoNation, is also considered a strong candidate due to his close relationship with the current Stellantis CEO. Other notable names mentioned in recent days include Hyundai’s José Muñoz and Stellantis’ Chief Purchasing Officer Maxime Picat.
Some had also suggested former Alfa Romeo CEO Jean Philippe Imparato, but this currently seems unlikely since Tavares himself replaced him with Santo Ficili due to Alfa Romeo’s poor sales results.
In a recent meeting with all management at the Auburn Hills headquarters, Tavares received support from everyone, including Chairman Elkann, to continue leading the group until the end of his term. For this reason, it currently seems unlikely that Tavares would leave Stellantis leadership with just over a year remaining on his contract.
Obviously, it cannot be ruled out that Chairman Elkann might ultimately decide to make a surprise move to regain the trust of unions and American automakers after the difficulties faced in 2024. We can only wait for further developments on this matter.