• Skip to main content

    Manufacturers/End Users

    December 3, 2024

    Stellantis seeks new CEO after Tavares steps down

    Written by Stephanie Ritenbaugh

    European automaker Stellantis said the process is underway to find a new chief executive following the sudden resignation of Carlos Tavares on Sunday as “different views” arose between the board and CEO.

    The company, which has significant operations in the US, expects to name a new CEO in the first half of 2025. Until then, an interim executive committee led by Board Chair John Elkann is at the helm.

    Stephanie Ritenbaugh

    Stephanie Ritenbaugh is a reporter for Steel Market Update. She is an experienced business journalist, holding a variety of positions for trade publications and newspapers, including covering shale development for Gas Business Briefing/Platts and for the Pittsburgh Post-Gazette. She can be reached at stephanie.ritenbaugh@crugroup.com or +1 724-759-7868

    Read more from Stephanie Ritenbaugh

    Latest in Manufacturers/End Users

    Join SMU for a Community Chat with AGC Chief Economist Ken Simonson on Oct. 28

    Ken Simonson, chief economist for the Associated General Contractors of America (AGC), will join SMU for a Community Chat webinar on Wednesday, Oct. 28, at 11 a.m. ET. What will we talk about? On the one hand, a steel-intensive data center boom continues to outstrip even the most bullish steel-demand forecasts. On the other hand, some more traditional construction markets are struggling. What happens if the data boom falters?

    US shipments of heating and cooling equipment slow further in August

    Total shipments of heating and cooling equipment cooled further in August, according to the latest figures from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). After falling 11% month on month (m/m) in July, shipments slipped another 10% in August. The monthly pace marks the third-slowest shipment rate year-to-date. Shipments of water heaters, air conditioners, and heat pumps declined m/m, while warm-air furnace shipments picked up. Compared with a year earlier, only air conditioners and heat pumps increased.

    Shipbuilding to return to Sparrows Point

    Shipbuilding is set to return to Sparrows Point, Md. President Trump and Secretary of War Pete Hegseth announced plans to develop a new shipbuilding facility at the site called Arsenal-2. The 2-million-square-foot facility sitting on an 187-acre site will manufacture critical components for the Virginia-class submarine. Sparrows Point is the former site of Bethlehem Steel, once the world's largest steel mill, and the Bethlehem Sparrows Point Shipyard.