Stellantis CEO Carlos Tavares will visit Detroit this week, where he will seek to develop a strategy to fix the European automaker's struggling North...
DETROIT - Stellantis CEO Carlos Tavares will visit Detroit this week, where he will seek to develop a strategy to fix the European automaker's struggling North American operations and reassure employees and investors, a person familiar with the plans said.
"He wanted to make clear he was handling it personally," the source said. "North American operations are basically funding the rest of the group." Those results came just after Tavares enjoyed a compensation package on Stellantis' 2023 results of up to 36.5 million euros , a 56% increase from a year earlier.
Massimo Baggiani, founder at Niche Asset Management in London, said Tavares remains "the best executive in the industry." Tavares' visit comes amid increasing uneasiness among some investors and union workers over the North American struggles. The company has said the lawsuit was "without merit" and told the UAW it had not violated terms of their bargaining agreement and the union could not legally strike.Japan takes down giant black screen blocking view of Mount Fuji ahead of Typhoon Ampil
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