carlos tavares came into stella ntis carlos tavares came into stellantis as its first chief executive at psa before that. he was a cost cutter and it was the time to do that, he was credited with turning round the psa group when it was close to bankruptcy. stellantis seem like a great idea, merging a european giant with an american one. the company has run out of steam to a certain extent. it does need new momentum and it needs to reinvigorate its profits in north america so we can deal with its other problems in europe. the new competition from china will be a prime issue for whoever comes in. . ~' , ., to france now where the government is facing a crucial budget vote which could potentially trigger a no—confidence vote in the prime minister, michel barnier, within days. marine le pen�*s far—right national rally is threatening to pull the plug on the coalition government over plans to rein in the massive french deficit. she's given the prime minister until today to answer her demands to amend his government's budget plans. the french stock market caciio has fallen over i% ahead of t

carlos tavares resigned with immediate effect.he company with diverging views with the ceo and the board. the announcement comes two months after stellantis issued a profit warning and days after re vealing closure of the plant in the uk. i want to look at today's session in terms of the stocks. stellantis is down at this stage. volkswagen is trading lower. i want to focus on stellantis, i should say. charlotte has been looking at details. investors seem to be a little bit on the back foot looking at how shares are performing at this stage. just explain to us how important this announcement is, charlotte. >> it is interesting this announcement of stellantis ceo taking immediate effect. they announced he would not continue in the job at the end of his contract in 6. they don't know what happened to the board and mr. tavares. suddenly the tone has shifted there and in the communique yesterday, they have different views which emerged in the board with the ceo and coming to the decision. we know the difficulties stellantis has been fa

the automaker says carlos tavares has resigned. has led the company since the crisis with peugot in 2021. in september, stellantis launched a successor for tavares. >>> a take look at the auto picture. stellantis shares down 7%. >>> coming up on "worldwide exchange," one word that every investor needs to know. >>> musk versus altman and openai. the drama with the world's richest and the poster child of artificial intelligence. we'll be right back after this break. get four on us. only on verizon. at betmgm, everyone gets a welcome offer. so whether you're courtside trying to hit the over... or up here trying to hit the under. whew! or, hitting that win with your crew. ohhh! yes, see defense! or way up here with a same game parlay. yaw! betmgm's got your back. get your welcome offer. and play with the sportsbook born in vegas. all these seats. really? get up to a $1500 new customer offer in bonus bets when you sign up now. betmgm. download and bet today. >>> welcome back to "worldwide exchange." market flash for you on tesla. shares

not a huge surprise in terms of it has been known for some time within the auto industry that carlos tavares not on the same page. it all spilled out into the open yesterday when tavares immediately resigned from the company. the independent director for the company issuing a statement saying in recent weeks different views have emerged which have resulted in the board and the ceo coming to today's decision. stellantis has been a world of hurt over the last year. q3 sales in the united states down 20%. why? a glut of vehicles because in the first half of this year, carlos tavares and he's even said, look, i was arrogant keeping our prices high, keeping production as high as it was, and as a result, dealers were furious. furious that they were having so many vehicles essentially flooding the new vehicle market whether it comes to jeep and ram. their sales suffered as a result. first half profit for the company overall negative 48%. look at stellantis versus gm and ford, we should point out the company is reaffirming its 2024 full year financial guidance. that's not going to matter a whole lot

let's begin with the auto sector and the shock resignation of carlos tavares, the ceo of the lantus.or more on this, let's cross to our reporter. tell us how significant this development is. carlos tava res is carlos tavares is known as one of the most respected executives in the auto industries, so this is news he would step down and with immediate effect seems very significant. and they very abrupt exit as well. still lantus is a massive auto company and has some of the world's most well—known brands under its banner. jeep, fiat, peugeot, chrysler to name a few. 14 in total. so he was seen as one of the most powerful people in the global motor industry. stellantis says that different views have emerged in recent weeks among major shareholders, the board and mr tavares, resulting in a ceo's resignation. some clues there perhaps. do we

in the auto sector and the shock resignation of carlos tava res, and the shock resignation of carlos tavares value this year. stellantis is the parent company of some of the world's most recognised brands, including vauxhall and jeep. what didn't go wrong, i guess, is another way to put it — carlos tava res has is another way to put it — carlos tavares has been saddled with a lot of difficult complexities at his sprawling business. it's a global business. it's a global business straddling two huge markets in the united states and in europe. and in the united states in particular, things kind of had gone off the rails. sales are way down. the inventories are way bloated. products have been late. the brand values have been damaged a bit. and incentives are soaring. so they have a lot of fixing to do in the united states. and i think the board just got tired of waiting. they said earlier this fall, actually, that they were going to replace him and that he would step down. that was already agreed to.

we have known for some time that there has been major friction between carlos tavares and the board of stellantis. he sent his resignation affected immediately. you can see why there are so many problems at stellantis. these are just a few of the negative financial highlights under transport in the last year. first of a profit down 48%. u.s. sales down 20%. europe down 12%. and specifically, to the united states, carlos tavares admitted, i was arrogant and saying to keep the production going. keep the prices elevated. they did that in the first half and you know what, it is coming back to really kill them. u.s. sales in the 3rd quarter down 19%. jeep down 6%. what happens now for stellantis as they try to figure out, first of all, how to get things back on track in terms of sales and stabilizing some of the losses they are incurring in different regions? first and foremost, john elkin who is the chair of stellantis will lead a committee and they essentially will run the company until they named the ceo which is expected in the first half of 2025. we should also point out that the compa

we start with the abrupt resignation of carlos tavares, the boss of stellantis — one of the world's biggestarmakers. the company suffered a profit warning two months ago and has seen a sharp decline in market value this year — a drop of a0%. stellantis, which owns the peugeot, fiat and jeep brands, said in a statement on sunday it has accepted the resignation of tava res, without explaining exactly why he had stepped down. the company will find a replacement chief executive in the first half of next year. here's our business correspondent, theo leggett. applause before his resignation, carlos tavares was one of the most powerful people in the global motor industry. he had a reputation as a ruthless cost—cutter, first at the french group psa, then, following its merger with fiat chrysler in 2021, at stellantis. initially, that stella ntis. initially, that merger went stellantis. initially, that merger went well, with the combined group producing a profit of 18.6 billion euro last year. but since then, stellantis has struggled. in north america, dealers found themselves unable to clear a back

shares in one of the world's biggest car companies, stellantis, have slumped after its ceo carlos tavaresseen here with france's president macron, was due to stay on until his five—year term ended in 2026. but reports suggest there were tensions with the board over the compa ny�*s strategy. stellantis is a giant in the auto industry with 11; brands including fiat, peugeot—citroen and opel in europe, and chrysler and jeep in the us. but its shares have lost 40% of their value this year. our international business correspondent theo leggett explains what's been going wrong. problems have been starting to engulf stellantis since the start of the year, many of them in north america, where sales have been plummeting. and that appears to be because of bad choices made within the parent company. dealers in north america have essentially found themselves with large inventories of cars that they just can't sell, because they're not what the market wanted. and there's been a lot of criticism of stellantis itself and of mr tavares because of that. at the same time, in europe, stellantis is facing pr

go wrong, i guess, is another way to put it — carlos tava res has is another way to put it — carlos tavares been saddled with a lot of difficult complexities at his sprawling business. it's a global business. it's a global business straddling two huge markets in the united states and in europe. and in the united states in particular, things kind of had gone off the rails. sales are way down. the inventories are way bloated. products have been late. the brand values have been damaged a bit. and incentives are soaring. so they have a lot of fixing to do in the united states. and i think the board just got tired of waiting. they said earlier this fall, actually, that they were going to replace him and that he would step down. that was already agreed to. so this news is not especially shocking. but what is surprising is the speed with which it happened. they originally said he would serve out his term through 2026, but then they announced over the weekend that it was effective december first. weekend that it was effective decemberfirst. so weekend that it was effective december first. so that m

carlos tava res is carlos tavares is known as one of the most respected executives in the auto industries, so this is news he would step down and with immediate effect seems very significant. and they very abrupt exit as well. still lantus is a massive auto company and has some of the world's most well—known brands under its banner. jeep, fiat, peugeot, chrysler to name a few. 1a in total. so he was seen as one of the most powerful people in the global motor industry. stellantis says that different views have emerged in recent weeks among major shareholders, the board and mr tavares, resulting in a ceo's resignation. some clues there perhaps. do we know why he may have resigned? we don't, but we know _ he may have resigned? we don't, but we know the _ he may have resigned? we don't, but we know the company - he may have resigned? we don't, but we know the company has - but we know the company has been facing declining sales in north america, in particular, and that led to issue a profit warning back in september, which included a forecast for cash burn of up to 10.6 billion dollars. since

they fell nearly 7% yesterday following the surprise exit of carlos tavares he lost the confidence office move at nissan the cfo is stepping down after a profit warning and cut of thousands of jobs. byd passed ford for the first time to take sixth place in global sales byd, the first chinese automaker to surpass the big three let's talk about the global auto industry with mark fields. former interim ceo at hertz. mark, how are you today? >> good morning, frank. >> mark, you are a real car guy. a real auto guy. i want to talk about somebody else who was an auto guy ceo carlos tavares kind of got in hot water a lot of people thought he kept production too high. what is the path forward withdee >> the first order of business for stellantis is to hire a new soirz. ceo. you really need somebody that has a lot of manufacturing and product development and quality and supply chain experience to come in and prioritize, define the reality for the team and stabilize the finances pick the team, the senior team that he's going to use for the turn around. determine what's core and non core and be a

shares in one of the world's biggest car companies, stellantis, have slumped after its ceo carlos tavaresseen here with france's president macron, was due to stay on until his five year term ended in 2026, but reports suggest there were tensions with the board over the compa ny�*s strategy. stellantis is a giant in the auto industry with ia brands including fiat, peugeot—citroen and opel in europe, and chrysler and jeep in the us. but its shares have lost a0 % of their value this year. our international business correspondent theo leggett explains what's been going wrong. problems have been starting to engulf stellantis since the start of the year, many of them in north america, where sales have been plummeting. and that appears to be because of bad choices made within the parent company. dealers in north america have essentially found themselves with large inventories of cars that they just can't sell, because they're not what the market wanted. and there's been a lot of criticism of stellantis itself and of mr tavares because of that. at the same time, in europe, stellantis is facing pr

we begin with the auto sector and the shock resignation of carlos tavares, the ceo of stellantis.. stella ntis yea r. stellantis year. is the parent company stellantis is the parent company of some of the world's most recognised brands. now, for more on this, let's cross to our asia business reporter. great to speak to you about this story. stellantis has different views emerging between the order mr tavares. what do you went wrong? thanks for havin: what do you went wrong? thanks for having me- — what do you went wrong? thanks for having me. what _ what do you went wrong? thanks for having me. what didn't - what do you went wrong? thanks for having me. what didn't go - for having me. what didn't go wrong i guess is another way of putting it. carlos uprated has been saddled with a little difficult complexities at his sprawling business. it is a global business struggling to make huge markets in the united states and europe, and in the us in particular, things kind of had gone off the rails. sales are way down, the inventories are away bloated, product has been late, brand values h

changes at the top intel ceo pat gelsinger retiring after 60% drop in the stock and stellantis carlos tavares quit after clashing with the board with the turnaround plan for the automaker which include jeep, dodge, ram and chrysler is not enough news, intel had been up 5%, and lost all of that now is down 1% to kickoff the final hour of trade let's get right to the floor show are two traders kenny polcari, let the reindeer games begin. where is peter tuckman, could not get in front of the camera. >> it is you, take it away give me a sense of what the first trading day what the first trading day has to say weather weekend see gains to november the s&p in the dow best month of the year. >> it was a great month i'm not complaining, i do think we are tough i don't think today suggest that we will keep marching higher into the end of the year. we could certainly if they hit us with a great headline that the market loves i don't think it's causing all kinds of banks quite honestly most investors assume that the terror conversation will given leverage and allow him to have these conversations i don'

ceo carlos tavares is stepping down after nearly four years in the role, after trying to steer the companyto profitability. but stellantis has struggled with slumping sales and rising pressure from autoworkers at plants in the u.s. and abroad. and the ceo of chipmaker intel has retired in a surprise announcement. pat gelsinger started at intel more than 40 years ago before becoming chief executive in 2021. the semiconductor manufacturer has struggled financially to keep up with rival nvidia. both those companies' stocks fell today, as wall street saw mixed results. the dow jones industrial average dipped lower by nearly 130 points, while the nasdaq jumped up by nearly one percent. in the s&p 500 climbed higher into new, record territory. still to come, how the civil war in syria has suddenly reignited. tamara keith and leigh ann caldwell reflect on the latest political headlines. and mementos from a lost past. a memorial project that honors victims of gun violence. >> this is the pbs news hour. from the david m rubenstein studio at weta in washington, and from the west from the walter cron

. >> carlos tavares resigned from the automaker effective immediately.re different views from him and the board of directors. it expects to conclude that search during the first half of 2025. >>> arizona company sunset produce issued a recall fofor i cucumbers because of of a salmonella outbreak who made 68 people sick. the cucumbers were sold between october 12th and november 26th including walmart and costco. so go look in your fridge. the company that owns stoly vodka filed for bankruptcy. it will remain on shelves as it deals with financial difficulties. >> it has an ongoing legal battle with russia over who controls it in russia and the netherlands. we'll keep an eye on that one. contessa brewer, thank you so much. >>> millions around the great lakes are dealing with a healthy helping of lake-effect snow and the impact it's having on holiday travel. >> the fight over popular vaping products heads to the nation's highest court and the landmark's case over products the fbi says case over products the fbi says is dying to target kids. katie! it's futur

ceo carlos tavares is stepping down after nearly four years in the role.ent company of jeep, ram, chrysler, and dodge. it has struggle with slumping sales. and pat gelsinger retired after struggling to keep pace in the chip space. still to come, how the civil war in syria has suddenly reignited. tamara keith and leanne caldwell reflect on the latest political headlines. and mementos from the lost cast, a memorial project that honors victims of gun violence. >> this is a pbs news hour from the david and rubenstein studio at w eta in washington, and in the west, from the walter cronkite school of journalism at arizona state university. amna: in syria today, russian and syrian warplanes targeted civilian areas held by opposition fighters. and turkey, which backs some of the multifaceted opposition, called on syrian president bashar al-assad to negotiate. it all comes days after rebels swept into parts of northwest syria that the regime had controlled for years and reignited a once-static war with broad implications for a region already embroiled in conflict.

carlos tavares, the chief executive of stellantis, which produces chrysler, jeep, ram, and dodge, resignedmping sales across north america. tavares had previously said he plans to retire at the end of 2026. >>> so back to the conversation that we were having before we went to break, john avlon, before you go, what is your take? joe was making the very point that you got to watch what you wish for because radicalism one year can lead to two years later big democratic wins. >> 100%. that's the pendulum swing. that's what happens when people overreach, they court a backlash. the question we're dealing with in our current politics is how much of this stuff is baked in the cake. you get different turnout models. because trump did not have a massive mandate, but he's acting like he's going to run the table ideologically, with -- including with empowering project 2025, which was less popular than lice in a lot of polling in the last election, that's going to provoke a massive backlash. it just is. the question is whether democrats will be in the position to benefit from it because they need to ma