By Nora Eckert
DETROIT (Reuters) – Stellantis' former Ram boss is returning to the corporate simply months after saying his retirement, because the automaker seeks to strengthen its administration crew following the surprising resignation of CEO Carlos Tavares.
Stellantis confirmed Monday that Timothy Kuniskis will return to his function as CEO of Ram, one of many firm's most useful manufacturers, whose U.S. gross sales fell 24% within the third quarter of 2024.
“Right now’s adjustments will permit us to function in a construction that can generate the perfect outcomes for the area, unlock vital potential and win available in the market.” One of many important levers for the Ram model is that its CEO is concentrated solely on this model,” the corporate spokesperson mentioned.
Stellantis is attempting to show round declining gross sales and income, significantly in its historically profitable North American operations. Shares of the automaker are down about 37% in 2024, an up yr for the broader market.
Chairman John Elkann heads an interim govt committee whereas Stellantis doesn’t have a CEO. Tavares' substitute can be chosen within the first half of 2025, the corporate mentioned.
Christine Feuell, who took over as head of the Ram model when Kuniskis retired, will proceed to guide Stellantis' Chrysler model in addition to Alfa Romeo North America, an organization spokeswoman mentioned.
CNBC earlier reported that Kuniskis would return to the automaker.
(Reporting by Nora Eckert; modifying by Invoice Berkrot)
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