Carlos Tavares
Carlos Tavares | |
|---|---|
| Born | Carlos Antunes Tavares Dias August 14, 1958 Lisbon, Portugal |
| Occupation | Automotive executive |
| Years active | 1981–2024 |
| Known for | CEO of Stellantis (2021–2024), CEO of PSA Group, COO of Renault |
Carlos Antunes Tavares Dias (born 14 August 1958) is a prominent Portuguese executive in the automotive industry. He held the position of CEO at Stellantis from January 2021 until December 2024, steering the company that emerged from the merger of PSA Group and Fiat Chrysler Automobiles, which ranked as the world's fourth-largest automaker by sales volume. Prior to this role, he was the chief operating officer (COO) at Renault.
Early life
Tavares was born in Lisbon, Portugal, to a mother who taught French and a father who worked as a chartered accountant for a French insurance firm. His enthusiasm for automobiles sparked at age 14 after discovering motor racing at the Estoril circuit near Lisbon, where he volunteered as a track marshal.
Following his studies at the Lycée français Charles Lepierre in Lisbon, he relocated to France at 17 to pursue preparatory mathematics courses at Lycée Pierre-de-Fermat in Toulouse. He earned his engineering degree from École Centrale Paris in 1981.
Renault
Tavares began his professional journey with Renault in 1981 as a test engineer at the age of 23. He subsequently managed the development of the Renault Mégane II project. From 2004 to 2011, he served at Nissan, Renault’s alliance partner in the Renault–Nissan Alliance, initially as programme director and later as vice-president of product strategy and planning. In 2005, he was promoted to executive vice-president and became a member of Nissan’s board. By 2009, he was responsible for overseeing Nissan’s operations across North and South America.
In 2011, Tavares returned to Renault as COO, acting as second-in-command under chairman and CEO Carlos Ghosn. Both shared similar backgrounds, including Portuguese heritage and education at prestigious French Grandes Écoles. On 15 August 2013, Tavares publicly declared his aspiration to become a CEO within the automotive sector. With Ghosn showing no plans to resign, tensions escalated; Ghosn reportedly demanded an apology from Tavares, who declined and resigned on 29 August 2013.
PSA Group
In 2014, Tavares assumed the roles of CEO and chairman of Groupe PSA, succeeding Philippe Varin. He introduced cost-reduction strategies and expanded PSA’s footprint in the Chinese market, steering the company back to profitability after several years of losses. That same year, he launched DS Automobiles as an independent brand.
Tavares received acclaim for orchestrating PSA’s acquisition of Opel and Vauxhall from General Motors, which contributed to record-breaking sales and profits while restoring profitability to Opel and Vauxhall despite PSA’s declining sales in China. He also spearheaded PSA’s merger with Fiat Chrysler Automobiles.
In 2023, Stellantis approved compensation nearing $40 million for Tavares. While managing major brands such as Jeep, Chrysler, and Peugeot, he faced criticism regarding his remuneration and comments suggesting that consumers should accept increased prices due to inflationary pressures.
Stellantis
The merger of PSA with Fiat Chrysler Automobiles in January 2021 resulted in the creation of Stellantis, with Tavares appointed as its inaugural CEO. He targeted annual savings of €5 billion through investments, platform sharing, and development efficiencies, committing to revitalizing underperforming brands via fresh capital infusion.
During France’s 2022 presidential election, both President Emmanuel Macron and candidate Marine Le Pen condemned Tavares’ 2021 remuneration package—approximately €19 million plus stock options and long-term incentives exceeding €50 million—as "shocking."
Tavares cautioned about a competitive "invasion" by Chinese electric vehicle (EV) manufacturers offering more affordable alternatives alongside Tesla. Between 2021 and 2022, Chinese EVs doubled their share of the European market to nearly 9%.
By September 2024, despite Tavares’ contract extending until 2026, Stellantis initiated succession planning. On 1 December 2024, Tavares unexpectedly stepped down as CEO; his resignation was accepted by the board which appointed an interim executive committee led by John Elkann to oversee the search for his replacement.
During Tavares’s tenure, Stellantis witnessed a 70% decline in net profits in 2024, its share price dropped more than half from its early-2024 high, and its market share in North America and Europe decreased by 5%.
Motorsport
Since the age of twenty-two, Tavares has been actively involved as an amateur racing driver. His participation in rallies and endurance events began in 1983, including the Monte-Carlo Rally, where he competed alongside co-driver Bruno Cébile and technical assistant Arnaud Montagné. In 2014, driving a Peugeot RCZ Cup for the Milan Competition team, he secured victory in the A2 category at the Barcelona 24 Hours with teammates Jean-Louis Dauger, Denis Gibaud, and Jérôme Maudet.
He is also the founder and manager of his own racing outfit, Clementeam Racing, a name inspired by his daughter.
Corporate boards
Tavares has held board memberships at several prominent companies, such as:
- Faurecia (2014–2019)
- Airbus (2016–2022)
- Total (2017–2020)
Honors and accolades
In 2019, Tavares was awarded 'Manager of the Year' at the BFM Awards. The following year, he earned the title 'World Car Person of the Year'. In 2022, Automotive News Europe recognized him as the 'Eurostar' Group CEO.
Private life
Tavares is married and has three daughters. His passion for classic automobiles includes ownership of a Porsche 912 (1966), an Alpine A110 (1976), and a Peugeot 504 V6 Coupé (1979).
He maintains a close relationship with former Portuguese Prime Minister José Sócrates.
Tavares participated as a jury member at the Chantilly Arts & Elegance Richard Mille automotive competition in both 2017 and 2019.
Following his departure as Stellantis CEO, he is said to live on a farm in Santarém, Portugal, where he engages in port wine production. Additionally, he owns a vineyard in the Douro Valley along with several hotel properties.