The struggling auto giant Stellantis said late Thursday that its CEO Carlos Tavares will retire in 2026 when his contract runs out and it is now looking for a successor. At the same time, he said he might retire in January 2026.

Chrysler parent Stellantis confirmed on Thursday that CEO Carlos Tavares would retire at the end of his contract in early 2026, and announced major senior management changes as it struggles to turn around its lagging North American operations.

A management shakeup at Stellantis sees Santo Ficili becoming the CEO of Alfa Romeo and Maserati. A replacement for Tavares will be decided by the end of 2025.

Stellantis, which makes Jeep and Chrysler vehicles, announced a number of significant leadership changes, including the timing of CEO Carlos Tevares’ retirement and the departure of its chief financial officer as it struggles to revive sales in North America.

Stellantis, which makes Jeep and Chrysler vehicles, announced a number of significant leadership changes, including the timing of CEO Carlos Tavares’ retirement and the departure of its chief financial officer as it struggles to revive sales in North America.

Jeep, Dodge, Ram and Chrysler owner Stellantis is struggling despite a banner year and big promises of a bright future.

Oct. 11 (UPI) -- Stellantis said Friday CEO Carlos Tavares will retire in early 2026 as the struggling company announced what it called targeted management changes in a turbulent global environment for the auto industry.

Stellantis shares lost ground Friday after the automaker announced a shakeup of its management as it tries to recover from a sales slump.