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.

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

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

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

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.

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.

Reports say the search isn't related to recent criticism of CEO Carlos Tavares and struggles in the U.S. market.

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.