Stellantis Stock: CEO Exit Triggers Major Market Tumble

The automotive giant Stellantis faces significant market turbulence following the unexpected resignation of its CEO, prompting an immediate stock price plunge of over eight percent to €11.48. This latest setback compounds the company's challenging position, as its shares have already witnessed a steep decline of approximately 45 percent over the past year. The departure, attributed to strategic differences between top management and the board of directors, has left the company under the temporary leadership of an executive committee while the search for a new CEO extends into the first half of 2025.

Operational Challenges Mount

The company's operational landscape reflects growing pressures across key markets. At its main facility, production has been scaled back to single-shift operations, a measure expected to continue through January's end. This adjustment comes amid difficult market conditions, particularly in North America, where excess inventory levels and subdued demand are affecting sales prices. The multinational automaker has also recently downgraded its profit forecast, facing headwinds in other crucial markets including China and Europe, where consumer demand remains notably restrained.