Carmaker Stellantis has embarked on what industry executives expect to be a lengthy and deeply challenging effort to replace star chief executive Carlos Tavares after a sudden reversal in the fortunes of the company that builds the Peugeot, Fiat and Jeep brands.

Struggling Jeep and Ram maker Stellantis is looking for a CEO to succeed Carlos Tavares, but the company says it's just part of a normal leadership succession plan.

Carlos Tavares has a contract to remain as Stellantis chief executive until early 2026 but that hasn’t stopped company chairman John Elkann from already starting a search for Tavares’ successor.

The company's chair is increasingly dissatisfied with the situation in North America, where sales have have slowed and several executives left.

Stellantis said on Monday it has begun a search for a candidate to succeed CEO Carlos Tavares, whose contract is set to expire in 2026.