Carlos Tavares, 62
CEO and Chairman of the Managing Board, PSA Group
TITLE: CEO and Chairman of the Managing Board
COMPANY: PSA Group
BASED: Velizy, France
Tavares took over a struggling PSA Group in January 2014 and by 2016, the first year of the Push to Pass plan, the automaker had achieved record profitability. In 2017 Tavares engineered an agreement to acquire General Motors’ money-losing Opel/Vauxhall brands, and by 2018 Opel’s operating margin was nearly 5 percent. Before joining PSA, Tavares spent 30 years at Renault and the Renault-Nissan Alliance, starting in 1981 as a chassis engineer at Renault. He joined Nissan in 2004, rising to become chairman of Nissan North America before being named chief operating officer at Renault Group in 2011.
REASON FOR WINNING
After Renault Group failed in a bid to merge with Fiat Chrysler Automobiles, Tavares and PSA swooped in to strike a deal in December to merge with the Italian-American automaker. It would create the fourth-largest automobile company by volume, and Tavares and FCA CEO Mike Manley expect it to generate 5 billion euros in annual synergies, as the two companies produce more vehicles on common platforms and share R&D and purchasing costs. The new company, to be called Stellantis, will be based in Amsterdam when the merger closes, expected by the end of the first quarter of 2021 and Tavares will serve as CEO.