Investing.com-- U.S. shares of automaker Stellantis NV (NYSE:STLA) rose on Monday after the firm said it had begun searching for a candidate to replace CEO Carlos Tavares, whose contract expires in 2026.
Shares rose 2.9% to $15.45 on Monday, but fell 0.3% in aftermarket trade.
Shares of the automaker slid to a 20-month low earlier in September, as it grappled with sluggish sales and profit in North America.
Tavares faces growing pressure to turn around the company’s American operations.
Stellantis said it was possible that Tavares could stay on for longer.