U.S. shares of Stellantis NV (NYSE: STLA) gained on Monday following the company’s announcement that it has started the search for a successor to CEO Carlos Tavares, whose contract is set to expire in 2026.
The stock increased by 2.9%, closing at $15.45 on Monday, although it dipped slightly by 0.3% in after-hours trading.
Earlier in September, Stellantis’ stock had reached its lowest point in 20 months, struggling due to weak sales and profits in its North American market. The company is under pressure to improve its performance in the region.
While the search for a new CEO is underway, Stellantis noted that Tavares could potentially extend his tenure beyond 2026.
