India, Feb. 3 -- Stellantis N.V. Monday announced a further shake-up in its management and structure following the ouster of Chief Executive Officer Carlos Tavares in December amid different views about the auto major. The company said the process to appoint a new permanent Chief Executive Officer is well underway, expected within the first half of 2025.
Following the news, shares of Stellantis N.V. were losing around 6 percent in the Paris and Milan trading, and around 5 percent in pre-market activity on the NYSE.
The latest management and organizational shake-up comes after the auto major recently reported weak underlying sales and shipments for the fourth quarter, amid inventory reduction actions, mainly in the U.S.
In a statement, th...