FILE PHOTO: Stellantis CEO Carlos Tavares inaugurates the group's electrified dual-clutch transmission (eDCT) assembly facility in the Mirafiori complex in Turin, Italy, April 10,2024. REUTERS/Massimo Pinca/File Photo

Stellantis shares slipped following the troubled automaker’s announcement of a sweeping management reshuffle just days after it slashed full-year earnings guidance.

Key Takeaways Stellantis shares lost ground Friday after the automaker announced a shakeup of its management as it tries to recover from a sales slump.The changes included replacing CFO Natalie Knight with China COO Doug Ostermann.

Italian lawmakers on Friday questioned the head of troubled French-Italian automaker Stellantis over the group’s strategy, one day after it announced a management shakeup in an effort to revive sales.

Struggling Italian carmaker Stellantis has ousted its CFO and confirmed its 66-year-old CEO will retire in two years in a major overhaul as the group tries to turn around a disastrous performance in the U.

Stellantis is replacing its finance chief Natalie Knight as part of a broad management overhaul. The automaker's move is an attempt to try to regain investor trust and stabilize a deteriorating business which has put CEO Carlos Tavares under intense pressure.