Stellantis, the automaker formed from the merger of Fiat Chrysler Automobiles and France’s PSA Group, has confirmed recent speculation surrounding CEO Carlos Tavares' planned retirement. The company announced on Thursday, October 12, 2024, during a board meeting, Tavares will step down early in 2026 when his current contract concludes. With this confirmation, Stellantis is now actively on the lookout for Tavares' successor. This potential leadership change emerges amid significant challenges the company faces, particularly as it aims to address sharp losses recorded within the North American market.
Under Tavares's guidance since 2021, Stellantis tried to achieve operational efficiencies across its 14 diverse brands. While initial efforts saw some success, this year has been particularly tough for the automotive giant. The company's financial health deteriorated noticeably after it reported, back in July, astonishingly steep declines of 48% year-over-year in net profits. Following this alarming report, Stellantis adjusted its profit forecast for 2024 downward and hinted at potential cuts to its lucrative dividend and share buyback options. All this indicates the firm is trying to move forward from its troubling position.
The leadership shakeup does not end with Tavares' impending departure. Stellantis also confirmed key changes within its senior management. Chief Financial Officer Natalie Knight will be replaced by Doug Ostermann, and Chief Operating Officer for North America Carlos Zarlenga will shift roles to be succeeded by Antonio Filosa. It’s noteworthy Filosa is currently steering the Jeep brand, and will take on the additional responsibility of overseeing Stellantis's North American division.
This restructuring follows considerable frustration expressed by Stellantis dealers, particularly those within the U.S. Many voiced their discontent through an open letter to Tavares. The complaints ranged from complaints about hastily made choices geared toward securing short-term profits to concerns about the erosion of Stellantis' U.S. brands, which include Chrysler, Dodge, Jeep, and Ram. The dealers emphasized the need for more sustainable practices moving forward.
Stellantis’s board had indicated it was already contemplating new leadership directions before announcing Tavares' confirmed exit. This constant shuffling at the top suggests urgency as the company grapples with more than just shifting sales figures, but also its reputation and future plans overall. The automotive industry, defined by rapidly changing technology and consumer expectations, presents overarching stresses to many manufacturers aiming to modernize and upgrade their fleets with electric options, among other developments.
Meanwhile, enthusiasts of high-performance automobiles have been buzzing about the new 2025 Mercedes-Benz AMG CLE 63 S E Performance Cabrio. Our latest spy images reveal this athletic model, which is set to mark its territory within the AMG lineup, gearing up for its futuristic release. Mercedes-Benz has become increasingly selective about its coupe and convertible offerings, with the evolution of its C-Class and E-Class gradually concluding. Enter the CLE-Class, which made its U.S. debut as the 2024 model and promises to blend luxury with performance.
The prototype spotted showcases the CLE 63 S E Performance Cabriolet variant, which is expected to deliver top-of-the-line performance through its powerful plug-in hybrid powertrain. Identifiable due to its square exhaust tips — a signature of more powerful AMG models — this vehicle boasts larger wheels and enhanced aerodynamics. Its aggressive styling resonates with the brand’s AMG lineage, merging both elegance and muscular prowess, as evidenced by the design choices surrounding air intakes and suspension systems.
Delving under the hood, the upcoming CLE 63 S E Performance Cabrio will integrate the turbocharged four-cylinder engine seen previously within the 2024 C 63 S E Performance sedan and new 2025 GLC 63 S E Performance crossover. Dual power sources mean the vehicle won't simply be about internal combustion; thanks to the electric-aided turbocharger, this setup generates up to 469 horsepower. Supportive of the main engine’s performance will be the electrical components, which serve multiple roles, including powering auxiliary systems and assisting with starting.
Powering through with hybrid energy, the rear axle houses another electric motor, capable of generating up to 201 additional horsepower. When all systems kick fully, drivers should be prepared for exhilarating speed — with combined output reaching 671 horsepower when necessary. This unique rear motor setup is connected to its distinctive two-speed transmission, paving the way for efficient energy management. The car's 6.1 kWh battery pack promises some electric-only range, allowing short excursions powered solely by electricity, which can be especially beneficial for urban driving situations.
Anticipation surrounds the launch of the AMG-powered versions of the CLE-Class, which are expected to hit the market either late this year or early next year. The immense excitement from automotive fans echoes the tension of transitions happening simultaneously within Stellantis and other leading companies as they jockey for position within the automotive marketplace amid shifting consumer preferences and increasing competition.
Clearly, the automotive industry is at the cusp of significant evolution, facing not just technological changes but leadership challenges as well. With these two key stories — Stellantis’s leadership changes readying for Carlos Tavares’s exit and Mercedes-Benz’s latest offering aiming to make waves — it’s clear the roads ahead will be fascinating to watch.
