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Carlos Tavares

From Wikipedia, the free encyclopedia

In this Portuguese name, the first or maternal family name is Tavares and the second or paternal family name is Dias.
Carlos Tavares
Tavares in 2018
Born
Carlos Antunes Tavares Dias[not verified in body]

(1958-08-14) 14 August 1958 (age 66)[not verified in body]
Lisbon, Portugal[not verified in body]
EducationLycée français Charles-Lepierre
École Centrale Paris
Occupationautomotive executive
Employer(s)Stellantis
Renault
Nissan
TitleCEO (Stellantis)
COO (Renault)
Exec. VP (Nissan)
Predecessorat Stellantis, none (founding CEO)
SuccessorJohn Elkann (chair, Interim Executive Committee)
Children3

Carlos Tavares (born 14 August 1958[not verified in body][1]) is a Portuguese business executive, primarily in the automotive sector. He was the chief executive officer (CEO) of Stellantis from January 2021 to December 2024, (when it was the world's fourth largest automaker by sales), a conglomerate that was formed by a merger that he had overseen, that of the PSA Group and Fiat Chrysler Automobiles. Earlier, he was chief operating officer (COO) at Renault.[2]

Early life and education

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Born Carlos Antunes Tavares Dias on 14 August 1958 in Lisbon, Portugal,[citation needed] Carlos Tavares' mother was a French teacher ("enseignait la langue de Molière") at his French Lyceum in Lisbon, and his father was a chartered accountant working for a French insurer.[3] Tavares' passion for cars has been traced to the young Carlos, age 14-years, when he discovered motor racing during an open day at the Estoril circuit, near Lisbon.[4] Passionate about cars, Tavares volunteered at that age, to be a track marshal on that circuit.[5]

After studying at the Lycée français Charles-Lepierre in Lisbon, he left his native country for France at the age of 17 to follow a preparatory course in maths at the Lycée Pierre-de-Fermat in Toulouse. He then graduated as an engineer from the École Centrale Paris in 1981.[6]

Career

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Renault

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Carlos Tavares held different positions within the Renault Group.[7] Tavares started his career at Renault, at the age of 23, as a test-driving engineer in 1981.[4][8][9] He was director of the Renault Mégane II project.[when?][4][10]

Between 2004 and 2011, he worked for Nissan, Renault's partner in the Renault–Nissan Alliance (now Renault–Nissan–Mitsubishi Alliance), first as programme director and then as vice-president, product strategy and product planning.[11][12][4] In 2005 Tavares was appointed executive vice-president, joining the board of directors.[12] By 2009, he oversaw Nissan's presence in North and South America.[4]

By 2011, he moved back to Renault to become chief operating officer, the number two executive under Carlos Ghosn, the chairman and chief executive officer of Renault and Nissan.[13] Tavares had much in common with Ghosn, as both were "raised in Portuguese-speaking environments. Both went on to graduate from French Grandes Ecoles and - perhaps less surprisingly - both like fast cars." However, on August 15, 2013, Tavares said publicly that he wanted to become CEO at an automaker. It was said that Tavares was ambitious and sought more responsibilities at Renault, however, Ghosn was only four years older and had no plans to step aside soon. Reportedly, Ghosn demanded that Tavares apologize to staff for the gaffe and Tavares refused. Instead he resigned from Renault on August 29, 2013.[14]

PSA Group

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Tavares became CEO and chairman of the board of Groupe PSA in 2014, replacing Philippe Varin [fr].[13] During his tenure, he spearheaded cost-cutting measures and increased the company's market share in China, which returned Groupe PSA to profitability after several years of losses.[2][15] In 2014, DS Automobiles was established as a stand-alone brand under his leadership.[16]

As CEO, Tavares garnered praise for PSA's acquisition of Opel, for PSA's record sales and profits, and for Opel's subsequent return to profitability; however, PSA sales in China slipped.[17] Furthermore, he led PSA into its merger with Fiat Chrysler Automobiles.[18]

In 2023, the Stellantis board approved nearly $40 million in compensation[clarification needed] to Tavares.[citation needed] While overseeing the Jeep, Chrysler, and Peugeot major car brands, Tavares faced criticism over that level of compensation alongside statements he made about rising food and automobile costs; specifically, his discussions about inflation included suggestions that consumers should simply expect to pay more for things (e.g., for "more expensive burgers") as a result of inflationary pressures.[citation needed]

Stellantis

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In January 2021, PSA Group merged with Fiat Chrysler Automobiles to form Stellantis. Tavares became its first CEO.[7] At Stellantis' first press conference, Tavares said he planned to save 5 billion euros a year in terms of investment, sharing of engines and platforms, and development.[19] He also announced that he wanted to relaunch the most fragile brands, which could benefit from new investments.[20]

During the 2022 French presidential election, incumbent President Emmanuel Macron and opposing candidate Marine Le Pen both called Tavares' 2021 compensation package – around Euro 19 million ($20.5 million), plus a stock package worth some additional Euro 32 million and long-term compensation of about Euro 25 million – "shocking".[21]

As the CEO, Tavares has raised concerns of an "invasion" from Chinese EV companies that, along with the American carmaker Tesla, are offering more affordable models compared to their European competitors. From 2021 to 2022, the European market share of Chinese EV manufacturers doubled to almost 9%.[22]

At the end of September 2024, the group's board of directors launched a procedure to prepare his succession even though his mandate ran until 2026.[23][24]

On 1 December 2024, Tavares abruptly resigned as CEO, and the board accepted his resignation; a new interim executive committee, chaired by John Elkann, was established to identify a new CEO. Italian politicians have asked Stellantis to not award Tavares a proposed exit bonus of $39.5 million.[25][26][27][better source needed][28]

Other activities

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Racing

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Tavares was an amateur racing driver since the age of twenty-two.[4] In 1983, he started driving in rallies and endurance races with friends Bruno Cébile (as co-driver) and Arnaud Montagné (as technical assistant), and as such, they participated in the Monte-Carlo Rally. In 2014—with Jean-Louis Dauger, Denis Gibaud, and Jérôme Maudet—Tavares won the A2 class of the Barcelona 24 Hours in a Peugeot RCZ Cup of the Milan Competition racing group.[29]

In addition, Tavares runs his own team, Clementeam Racing, named in recognition of his daughter.[2]

Boards

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Tavares has been a member of various boards of directors, including of:

Awards and recognition

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In 2019, Tavares won the 'Manager of the Year' award at the 15th edition of BFM Awards.[35] Later, in 2020, he was given the award of 'World Car Person of the year'.[36][37] In 2022, Tavares was chosen as the 'Eurostar' for Group CEO by Automotive News Europe.[38]

Personal life

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Tavares is married and father of three children.[39]

He collects classic cars, including a Porsche 912 from 1966, an Alpine A110 from 1976, and a Peugeot 504 V6 Coupé from 1979.[2]

Tavares is also known to be close to the former Prime Minister of Portugal José Sócrates.[40]

  • Carlos Tavares at the Spa Classic in 2019
    Carlos Tavares at the Spa Classic in 2019
  • Carlos Tavares at the Chantilly Arts & Elegance in 2017
    Carlos Tavares at the Chantilly Arts & Elegance in 2017

He has been a member of the jury at Chantilly Arts & Elegance Richard Mille in 2017 and 2019, an automobile elegance competition.[41][42]

References

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  1. ^ There is no currently identified source supporting the 14 August 1958 date of birth; sources do establish that he was born ca. 1958, e.g., see Botella 2014 and Ramsey 2012, op. cit.
  2. ^ a b c d Stothard, Michael (6 March 2015). "Classic Rally Car Driving With the FT: Carlos Tavares". Financial Times (FT.com). London, England: Nikkei—The Financial Times Limited. Retrieved 2 December 2024.
  3. ^ Botella, Jean (23 January 2014) [2011-09-05]. "Les Petits Secrets de Carlos Tavares, Nouveau Patron de Renault" [The Little Secrets of Carlos Tavares, New Boss of Renault]. Capital (Capital.fr, monthly magazine in French). Paris and Gennevilliers, Hauts-de-Seine, France: Prisma Media—Groupe Vivendi. Retrieved 2 December 2024.
  4. ^ a b c d e f Ramsey, Mike (20 December 2012). "Renault's Carlos Tavares: Meet the Next Auto Boss". The Wall Street Journal (WSJ.com). New York, NY: Dow Jones & Company, Inc. Retrieved 2 December 2024.
  5. ^ "Portrait - Carlos Tavares, directeur général délégué de Renault : Autophile". Challenges (in French). Retrieved 29 May 2021.
  6. ^ "PSA Peugeot: Executive Committee". Archived from the original on 17 April 2015. Retrieved 14 April 2015.
  7. ^ a b "Big Three Auto Executives 2022: Stellantis". DBusiness. 23 November 2022. Retrieved 22 May 2023.
  8. ^ "Carlos Tavares, a Top Executive at Renault, Resigns". The New York Times. 29 August 2013. Retrieved 28 March 2023.
  9. ^ "Tavares L'autre Carlos". Les Echos. 5 May 2017. Retrieved 28 March 2023.
  10. ^ "Les Barons de la Bourse". Zonebourse.com. Retrieved 23 July 2023.
  11. ^ "Renault names Nissan U.S. boss Carlos Tavares as new COO". Reuters. 30 May 2011. Retrieved 14 January 2020.
  12. ^ a b "Renault boss Carlos Tavares leaves (30 August 2013)". Autocar India. Retrieved 14 January 2020.
  13. ^ a b Michael Stothard, Henry Foy, Peugeot taps former Renault executive Carlos Tavares as chief, Financial Times, November 25, 2013
  14. ^ "Carlos vs. Carlos: Peugeot move turns double-act to rivalry". 3 March 2014 – via www.reuters.com.
  15. ^ "Carlos Tavares' Next Frontier". Automotive News. 24 October 2016.
  16. ^ "PSA Boss Tavares Wants DS to Become Stand-Alone Brand". Automotive News Europe. 4 March 2014.
  17. ^ "How Tavares Turned Around PSA and Opel". Automotive News. 5 August 2019. Retrieved 1 March 2020.
  18. ^ "Tavares Has Car Manual for Fixing Fiat Chrysler". Automotive News Europe. 18 December 2019. Retrieved 1 March 2020.
  19. ^ Caradisiac.com. "Stellantis: les premières annonces de Carlos Tavares après la fusion PSA-Fiat". Caradisiac.com (in French). Retrieved 29 May 2021.
  20. ^ "Stellantis ne laissera aucune marque au garage, promet Tavares". blue News (in French). Retrieved 29 May 2021.
  21. ^ Benoit Van Overstraeten and Leigh Thomas (15 April 2022), France's Macron, Le Pen call Stellantis CEO's pay package "shocking" Reuters.
  22. ^ Guillaume, Gilles; Piovaccari, Giulio (27 July 2023). "Western car makers look to slash EV costs to fight Chinese 'invasion'". Reuters.
  23. ^ "Stellantis : le processus de succession pour remplacer Carlos Tavares lancé". La Tribune. 24 September 2024.
  24. ^ Guinochet, Fanny (30 September 2024). "Industrie automobile : la succession de Carlos Tavares à la tête de Stellantis est lancée". France Info.
  25. ^ https://www.clubalfa.it/en/stellantis-ceo-carlos-tavares-to-receive-massive-exit-bonus-13353
  26. ^ Piovaccari, Giulio & Eckert, Nora (1 December 2024). "Stellantis CEO Carlos Tavares Abruptly Quits as US Jeep, Ram Sales Falter". Reuters.com. London, England: Thomson Reuters. Retrieved 2 December 2024.{{cite web}}: CS1 maint: multiple names: authors list (link)
  27. ^ SWVaux Staff (1 December 2024). "Board Accepts Carlos Tavares' Resignation as Chief Executive Officer". SWVaux.com. Newport, Wales: The Vauxhall Owners Club of South Wales. Retrieved 2 December 2024.[better source needed]
  28. ^ https://www.media.stellantis.com/em-en/corporate-communications/press/board-accepts-carlos-tavares-resignation-as-chief-executive-officer
  29. ^ "Jean-Louis Dauger et Vaillante-Mirage au Mans : "Raconter de belles histoires" | Endurance info" (in French). Retrieved 29 May 2021.
  30. ^ "Faurecia: Tavares au conseil d'administration". Le Figaro. 27 May 2014. Retrieved 22 May 2023.
  31. ^ "Nomination de Grégoire Olivier au Conseil d'Administration". Faurecia. 15 October 2018. Retrieved 22 May 2023.
  32. ^ Airbus Group Proposes New Board Members For Approval At AGM Airbus, press release of 17 March 2016.
  33. ^ "Carlos Tavares quittera le conseil d'administration d'Airbus en 2022". Les Échos. 17 September 2021. Retrieved 22 May 2023.
  34. ^ Bourse, Zone. "Total: Carlos Tavares va quitter le conseil d'administration". www.zonebourse.com (in French). Retrieved 29 May 2021.
  35. ^ "Carlos Tavares, élu manager de l'année aux BFM Awards 2019". BFMTV. Retrieved 31 May 2023.
  36. ^ "Finalists For 2020 World Car Awards Dominated By Mazda, Porsche And Kia". Forbes. Retrieved 22 May 2023.
  37. ^ "Groupe PSA : Carlos Tavares élu personnalité automobile " mondiale " de l'année". The Automobilist. Retrieved 23 July 2023.
  38. ^ "2022 Eurostar winner Carlos Tavares of Stellantis". Automotive News Europe. Retrieved 31 May 2023.
  39. ^ Anne-Sophie Lechevallier, 'Carlos Tavares - L'homme providentiel de PSA', in Paris Match, 28 November 2013, p. 44
  40. ^ "Carlos Tavares ou l'homme qui mène PSA à la baguette". Challenges (in French). Retrieved 29 May 2021.
  41. ^ Ker, Thierry (21 July 2019) [21 June 2019]. ""Chantilly Arts & Elegance" Richard Mille, Un Must de l'Élégance et de l'Art de Vivre!". Les Nouvelles de Paris (NouvellesdeParis.com) (in French). Retrieved 2 December 2024.
  42. ^ "Les plus belles voitures du Monde & Ferrari à l'honneur @ " Chantilly Arts & Elegance Richard Mille " by Peter Auto !!". Les Nouvelles de Paris. 6 September 2017. Retrieved 22 May 2023.

Further reading

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