Carlos Tavares rules out departure from Stellantis before his mandate is up

Carlos Tavares ruled out his departure from car manufacturer Stellantis on Thursday and indicated that he intends to remain in his post until the end of 2026, the date on which the mandate expires.

This at a time when the CEO has been under pressure due to operations in North America, where record sales (and profit) drops have caused the carmaker’s share price to plummet.

Tavares warned, however, that in the current market, mistakes are being scrutinised more. “When you are in a context that is brutal and more demanding, if there are small operational errors, they are immediately visible,” he told Reuters on a visit to a factory in France, adding that he looks at these moments as a “wake up call” that he takes very seriously.

The CEO of Stellantis also said he believes that operational difficulties in the US will be resolved well before the end of his term.

Tavares left the door open to possible cuts to dividends and share buyback programmes and considered that the problems with the business in the United States that led to profit reduction warnings were “small operational errors”.