The boss of the Franco-Italian-American automobile group Stellantis was forced to resign with immediate effect, under pressure from the exceptional board of directors meeting on Sunday evening. Near Rennes, on the Janais site, currently closed for lack of parts, the employees are bitter.
The essentials of the day: our exclusive selection
Every day, our editorial team reserves the best regional news for you. A selection just for you, to stay in touch with your regions.
France Télévisions uses your email address to send you the newsletter “Today’s essentials: our exclusive selection”. You can unsubscribe at any time via the link at the bottom of this newsletter. Our privacy policy
“For me this is not good news! Finding yourself without a boss at the head of a company like Stellantis is not good news.” This Monday morning, FO secretary Nadine Cormier doesn’t beat around the bush. Carlos Tavares made comments, made promises, a few weeks ago, but: “He said ‘no site closure’… In the strategic committee, there was talk of investments, volumes to be produced … What is his value today? He will no longer be there to keep these promises.”
The day after the announcement of the “surprise” departure of the boss of Stellantis, caution is required on the Janais site. Carlos Tavares, the CEO, was still there two weeks ago. At the time “nothing suggested his departure” notes Laurent Valy of the CFDT. “We knew there were tensions and that it was complicated, but we are still surprised…”
Visiting the Saint-Jacques-de-la-Lande site on Monday, November 18, the boss of Stellantis tried the new Citroën SUV assembled on site since mid-November, before emphasizing that activity in the factory “depended on the commercial success of the future C5 Aircross”, with a breakeven point set between 50,000 and 80,000 sales per year. The replacement vehicle for the current C5 Aircross should be launched in electric and hybrid versions – and gasoline for markets outside Europe – in the second half of 2025.
The boss of the Franco-Italian-American automobile group was forced to resign with immediate effect under pressure from the exceptional board of directors meeting on Sunday evening. The 66-year-old CEO was supposed to keep the reins of Stellantis for a year before retiring, but “differences of views” got the better of him. He is accused of management considered too brutal and excessive pressure on the teams, despite warnings from the board of directors. According to several sources, the board of directors recorded a form of denial from the manager.
“He was a very demanding person, he did a lot of things, but at what cost!? There has never been such a drop in numbers…” breathes Laurent Valy, secretary of the CFDT section on the Janais website, which is concerned, among other things, about the resources allocated to Research and Development.
“Indeed, there have been many departures of employees, but until now they have always been supported, on the group’s various industrial sites. But what will be the support measures tomorrow? What volumes? We can fear everything …” worries Nadine Cormier.
What about the major strategies announced? “We hope that the load plans will be respected” worry the union representatives who fear new changes in strategy.
The surprise departure of the CEO comes in a particular context: “Today, the Janais factory is closed for lack of parts” bitterly remind the union representatives. “We are unemployed or partially active. We are in a period where we are being asked to make even more efforts, and he risks leaving with millions of euros… This risks revolting more people. A…”
Also read: Stellantis cuts 250 temporary positions in a factory near Rennes
The amount of compensation for Carlos Tavares, pushed out by Stellantis, would indeed amount to tens of millions of euros, franceinfo learned this Monday from members of the board of directors. The board of directors certainly fired him, but it praised his ability to turn around the Stellantis group over the past ten years. Judging that he was not completely unworthy, the council therefore did not oppose a departure with high compensation.
Carlos Tavares negotiated a significant bonus in light of the astronomical remuneration he received. He was in fact the best paid boss in the automobile industry, with 36.5 million euros for the year 2023. “We do not yet know exactly how much he will leave with, but already earning 100,000 euros per day of salary… We hope that his golden parachute will be as low as possible…”
“We know that the first half of 2025 is going to be difficult. Today, we are only making one product and it is at the end of its life” regrets Laurent Valy. “In the workshops, the employees will be revolted. This departure, these sums, all of this is beyond us. But the government should still legislate…”
Carlos Tavares’ successor is not yet known. He will be appointed during the first half of 2025. In the meantime, John Elkann, heir to the Agnelli family, the group’s largest shareholder, will head a new temporary executive committee.
Every day, receive news from your region by newsletter.
Ignore
register
Every day, receive news from your region by newsletter.
France Télévisions uses your email address to send you the newsletter for your region. You can unsubscribe at any time via the link at the bottom of these newsletters. Our privacy policy