Oct 9 (Reuters) - Stellantis ( STLA ) CEO Carlos

Tavares is planning a deep management reshuffle amid the

automaker's profit warning, Bloomberg News reported on

Wednesday, citing people familiar with the matter.

Tavares has faced mounting pressure to rectify the

automaker's North America operations, where a steep fall in

sales and profit have triggered a steep drop in the company's

share price.

The world's fourth biggest automaker by sales is facing

weakening global demand and an inventory surplus amid tough

competition from China.

The carmaker's current problems are more pronounced in the

United States, where it has been forced to lower prices on some

of its high-margin Jeeps and pickup trucks due to slowing

demand.

Last week, Stellantis ( STLA ) cut its 2024 profit forecast and

warned it will burn more cash than expected as it promised to

reduce output and offer big discounts to revive its business in

the U.S.

Tavares may present his proposal at a board meeting

scheduled to happen in the U.S. this week. The proposal could

affect finance teams, regional heads and brand executives among

others, the report said.

Stellantis ( STLA ) declined to comment on the matter.

The board is also expected to discuss Tavares' future during

the two-day meeting, the report added.

Stellantis ( STLA ) is currently seeking a successor to Tavares,

whose contract is set to expire in 2026. However, the automaker

has also hinted at the possibility of Tavares extending his

tenure with the company.