“,”elements”:[]}],”thumb_big”:”https://etimg.etb2bimg.com/thumb/msid-115894497,imgsize-122214,width-1200,height=765,overlay-etauto/industry/stellantis-falls-7-in-paris-after-ceo-tavares-resigns.jpg”,”thumb_small”:”https://etimg.etb2bimg.com/thumb/img-size-122214/115894497.cms?width=150&height=112″,”time”:”2024-12-02 14:15:20″,”is_live”:false,”prime_id”:0,”highlights”:[],”highlights_html”:””,”also_read_available”:false,”body”:”
“This sets an unprecedented challenge for investors looking to invest in a firm with such volatility in the management team,” JPMorgan said in a note referring to earlier resignation of Stellantis' finance chief.” />
Paris-listed shares in Stellantis slumped by over 7% on Monday after chief executive Carlos Tavares resigned abruptly on Sunday.
Stellantis said it would seek to find a replacement CEO in the first half of 2025 and would establish a new interim executive committee helmed by Chairman John Elkann.
Previously regarded as one of the most respected executives in the auto industry, Tavares’ approach came under scrutiny after slumping sales in North American led the automaker in September to issue a profit warning on its 2024 results.
“This sets an unprecedented challenge for investors looking to invest in a firm with such volatility in the management team,” JPMorgan said in a note referring to earlier resignation of Stellantis’ finance chief.
” … with such a turnaround in the top management team, question marks may be raised as the market will in our view price in no major earnings improvement in FY25,” they added.
“The difficulties of Stellantis continue to cast doubts about the global brand conglomerate business model… as well as CEO longevity in an industry as structurally and cyclically challenged as Autos,” Jefferies analysts said
Milan-listed shares, down more than 40% year-to-date, were halted in early trading.
“,”next_sibling”:[{“msid”:115892296,”title”:”Mahindra sales up 12% in November with 79,083 units”,”entity_type”:”ARTICLE”,”link”:”/news/industry/mahindra-sales-up-12-in-november-with-79083-units/115892296″,”link_next_mobile”:”/news/industry/mahindra-sales-up-12-in-november-with-79083-units/115892296?next=1″,”category_name”:null,”category_name_seo”:”industry”}],”related_content”:[],”seoschemas”:false,”social_share”:{“fb”:”/news/industry/stellantis-falls-7-in-paris-after-ceo-tavares-resigns/115894497?utm_source=facebook&utm_medium={{DEVICE_TYPE}}”,”x”:”/news/industry/stellantis-falls-7-in-paris-after-ceo-tavares-resigns/115894497?utm_source=twitter&utm_medium={{DEVICE_TYPE}}”,”whatsapp”:”/news/industry/stellantis-falls-7-in-paris-after-ceo-tavares-resigns/115894497?utm_source=wapp&utm_medium={{DEVICE_TYPE}}”,”linkdin”:”/news/industry/stellantis-falls-7-in-paris-after-ceo-tavares-resigns/115894497?utm_source=linkedin&utm_medium={{DEVICE_TYPE}}”,”telegram”:”/news/industry/stellantis-falls-7-in-paris-after-ceo-tavares-resigns/115894497?utm_source=telegram&utm_medium={{DEVICE_TYPE}}”,”copy”:”/news/industry/stellantis-falls-7-in-paris-after-ceo-tavares-resigns/115894497?utm_source=copy&utm_medium={{DEVICE_TYPE}}”},”cat_msid”:25384693,”cat_sub_msid”:false,”msid”:115894497,”entity_type”:”ARTICLE”,”title”:”Stellantis falls 7% in Paris after CEO Tavares resigns”,”synopsis”:”Stellantis said it would seek to find a replacement CEO in the first half of 2025 and would establish a new interim executive committee helmed by Chairman John Elkann.”,”titleseo”:”industry/stellantis-falls-7-in-paris-after-ceo-tavares-resigns”,”status”:”ACTIVE”,”authors”:[],”Alttitle”:{“minfo”:””},”artag”:”Reuters”,”artdate”:”2024-12-02 14:15:20″,”lastupd”:”2024-12-02 14:24:51″,”breadcrumbTags”:[“Stellantis stock decline”,”Carlos Tavares resignation”,”Stellantis CEO news”,”JPMorgan analyst comments”,”Stellantis management changes”,”auto industry challenges”,”North American sales slump”,”profit warning 2024″,”automaker leadership volatility”,”CEO longevity automotive industry”],”secinfo”:{“seolocation”:”industry/stellantis-falls-7-in-paris-after-ceo-tavares-resigns”}}” data-authors=”[” data-author-list data-category-name=”Industry” data-category_id=”23″ data-cat_msid=”25384693″ data-date=”2024-12-02″ data-index=”article_1″ data-keywords=”Stellantis stock decline, Carlos Tavares resignation, Stellantis CEO news, JPMorgan analyst comments, Stellantis management changes, auto industry challenges, North American sales slump, profit warning 2024, automaker leadership volatility, CEO longevity automotive industry” data-type=”news”>
Stellantis said it would seek to find a replacement CEO in the first half of 2025 and would establish a new interim executive committee helmed by Chairman John Elkann.
- Updated On Dec 2, 2024 at 02:24 PM IST
“This sets an unprecedented challenge for investors looking to invest in a firm with such volatility in the management team,” JPMorgan said in a note referring to earlier resignation of Stellantis’ finance chief.“>
Paris-listed shares in Stellantis slumped by over 7% on Monday after chief executive Carlos Tavares resigned abruptly on Sunday.
Stellantis said it would seek to find a replacement CEO in the first half of 2025 and would establish a new interim executive committee helmed by Chairman John Elkann.
Previously regarded as one of the most respected executives in the auto industry, Tavares’ approach came under scrutiny after slumping sales in North American led the automaker in September to issue a profit warning on its 2024 results.
“This sets an unprecedented challenge for investors looking to invest in a firm with such volatility in the management team,” JPMorgan said in a note referring to earlier resignation of Stellantis’ finance chief.
” … with such a turnaround in the top management team, question marks may be raised as the market will in our view price in no major earnings improvement in FY25,” they added.
“The difficulties of Stellantis continue to cast doubts about the global brand conglomerate business model… as well as CEO longevity in an industry as structurally and cyclically challenged as Autos,” Jefferies analysts said
Milan-listed shares, down more than 40% year-to-date, were halted in early trading.
- Published On Dec 2, 2024 at 02:15 PM IST
Join the community of 2M+ industry professionals
Subscribe to our newsletter to get latest insights & analysis.
