06:11 AM EDT, 08/21/2024 (MT Newswires) -- Stellantis ( STLA ) chief executive officer Carlos Tavares plans to visit Detroit in an effort to turn around the company's North American operations, which have struggled with poor sales and declining profit, Reuters reported Wednesday, citing people familiar with the plans.

The chief of the European automaker is expected to initially meet with top-line managers before formulating a strategy by week's end, the report said.

The planned visit was intended to send a "clear signal" that Tavares is handling matters personally, the report quoted sources as saying.

Stellantis ( STLA ) did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 16.50, Change: +0.20, Percent Change: +1.23