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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]
Carlos Tavares | |
|---|---|
 Tavares in 2018 | |
| Born | 14 August 1958[not verified in body] |
| Education | Lycée français Charles-Lepierre École Centrale Paris |
| Occupation | automotive executive |
| Employer(s) | Stellantis Renault Nissan |
| Title | CEO (Stellantis) COO (Renault) Exec. VP (Nissan) |
| Predecessor | at Stellantis, none (founding CEO) |
| Successor | John Elkann (chair, Interim Executive Committee) |
| Children | 3 |
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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]
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Renault
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
Tavares became CEO and chairman of the board of Groupe PSA in 2014, replacing Philippe Varin.[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
 | This article may require copy editing for improved clarity of expression and flow of content (so that meanings of the section are clear). (December 2024) |
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
Racing
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
Tavares has been a member of various boards of directors, including of:
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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]
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 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]
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