this post was submitted on 02 Dec 2024
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Stellantis CEO just abruptly quit yesterday or day before too.
True, Stellantis has done extremely poorly the past couple of years IMO. They have several brands that usually feature in the top 10 most sold car models here (Denmark). But currently they have zero models even in top 20. Their EV cars are underwhelming generally offered with too small batteries, and are almost complete failures in the market. There have been some seriously wrong administrative decisions at the top.
Some of the same can possibly be said about Intel, except Intel was already in trouble when Gelsinger took over, and he is still working on the plan he set out to execute. Switching him out now looks really bad. Of course it may be they have to, disregarding how it looks.
With Stellantis it seems more the logical thing to do. Because Stellantis is bleeding, and losing market share fast.
Edit:
Huge difference with Stellantis is that they are quite open about the performance of the company has been poor, and that's the reason he retires abruptly.
Isn’t stellantis Chrysler? Listen I’m not a betting woman, but I feel like betting against Chrysler has been safe for most of my life, no matter how much I loved the 300M I inherited as a teenager.
Yes Chrysler is part of Stellantis, and once upon a time, way way back in what has since been called the 80's, Chrysler was near bankrupt, but a savior came to Chrysler with the name Lee Iacocca. The mastermind behind Ford Mustang. And he came to Chrysler and saw all that was bad and fixed it. He undertook to finish a bold new type of car in the Dodge Caravan, which became hugely successful and saved Chrysler. Chrysler went on to become so successful they were even able to buy up other brands like AMC that also owned Jeep.
Ah well, as a European I know little about Chrysler today, but I have fond memories of once admiring mostly everything American, and Lee Iacocca and Jack Tramiel are probably the two business leaders I respect the most of all time.
Sorry to hear Chrysler is now considered safe to bet against. But sadly Stellantis has been shit for some years now.
Stellantis has many traditionally popular European brands, like Citroen, Peugeot, FIAT, Opel (Vauxhall in UK), Alpha Romeo and Lancia. And AFAIK all the brands are doing poorly.
Yeah Chrysler shit the bed in the 00s and has more or less just been there for a while now
It might be bad but their stocks went up significantly today...
Intel's stock, not Stellantis they are down bad.
Wow, so an unknown is better than Gelsinger!!