Struggling Jeep and Ram maker Stellantis is looking for a CEO to succeed Carlos Tavares, but the company says it’s just part of a normal leadership succession plan.

Stellantis has initiated a search for a successor to CEO Carlos Tavares, Bloomberg News reported on Monday citing people familiar with the matter. Tavares has been under pressure to correct the automaker's struggling North American operations,

Struggling Jeep and Ram maker Stellantis is looking for a CEO to succeed Carlos Tavares, but the company says it’s part of a normal leadership succession plan.

The company's chair is increasingly dissatisfied with the situation in North America, where sales have have slowed and several executives left.

Stellantis said on Monday it has begun a search for a candidate to succeed CEO Carlos Tavares, whose contract is set to expire in 2026.

Chrysler-parent Stellantis is searching for CEO Carlos Tavares' successor, the company said Monday, after the company's chief financial officer laid out a plan to strengthen North America operations by slashing its bloated inventories and cutting vehicle prices.

Stellantis, the parent company of Jeep, Ram, Dodge, and several others is searching for a new CEO to replace Carlos Tavares. The company is considering a leadership change after Taveres’ contract expires in 2026. The move comes as Stellantis looks to revamp brand sales in the US, its biggest profit market, as it falls behind rivals.

Pressure on Tavares is rising due to Stellantis' poor performance in markets including the U.S., its biggest single profit pool.