Stellantis Shares Climb Amid Speculation About New CEO

U.S. shares of automaker Stellantis NV experienced a 2.9% increase on Monday, reaching $15.45, following the announcement that the company is actively seeking a replacement for CEO Carlos Tavares, whose contract runs until 2026. However, shares dipped 0.3% in after-hours trading.

Earlier in September, the company’s stock had fallen to a 20-month low as it faced challenges with sluggish sales and profits in North America. There is mounting pressure on Tavares to rejuvenate the company’s American operations, although Stellantis indicated that an extension of his tenure is still a possibility.