DETROIT, Dec 9 (Reuters) - Stellantis' ( STLA ) former head of
Ram is returning to the company just months after announcing his
retirement, as the automaker seeks to strengthen its leadership
team following the unexpected resignation of CEO Carlos Tavares.
Stellantis ( STLA ) confirmed on Monday that Timothy Kuniskis would
resume his position as CEO of Ram, one of the company's most
important brands, which has seen U.S. sales slump 24% through
the third quarter of 2024.
"Today's changes will enable us to operate in a structure
that will drive the best outcomes for the region, unlock
significant potential and win in the market. A main lever is for
the Ram brand to have its CEO singularly focused on that brand,"
a company spokeswoman said.
Stellantis ( STLA ) is trying to turn around falling sales and
profits, especially in its traditionally lucrative North
American operations. The carmaker's shares are down about 37% in
2024, an up year for the broader market.
Chairman John Elkann is leading an interim executive
committee while Stellantis ( STLA ) is without a CEO. Tavares'
replacement will be selected in the first half of 2025, the
company said.
Christine Feuell, who took over leading the Ram brand when
Kuniskis retired, will continue to lead Stellantis' ( STLA ) Chrysler
brand as well as Alfa Romeo North America, a company spokeswoman
said.
CNBC earlier reported that Kuniskis would return to the
automaker.