Executive Exits at Nissan, Stellantis Reflect Industry Challenges

It was a weekend of departures for the car industry, at least in Europe and Japan. First came news that Nissan Chief Financial Officer Stephen Ma is set to step down during a challenging period for the Japanese carmaker. Then came Carlos Tavares’s early resignation from Stellantis, the maker of Jeeps and Fiats. What the two manufacturers have in common are slumping profits and weaker US sales — and Carlos Ghosn. Tavares was once a trusted deputy of the former Nissan and Renault chairman before Ghosn’s arrest and ouster. Although the carmakers’ current predicament has more to do with the changing competitive landscape of the global auto industry, they underscore that leadership at the top matters. Volkswagen’s management may see that very soon, with workers across Germany planning walkouts after labor leaders and management failed to reach an agreement over how to cut costs.

The clash in France between Finance Minister Antoine Armand and far-right leader Marine Le Pen intensified as he pushed back against demands by the National Rally to tweak his 2025 budget to index pensions to inflation. She threatened to topple the government unless the issue was resolved by Monday. “The French government doesn’t take ultimatums,” Armand said in an interview with Bloomberg Television on Sunday. “We won’t be blackmailed.”