Pat Gelsinger and Carlos Tavares had the same big problem: Morning Brief
Published On Dec 3, 2024, 6:00 AM
Pat Gelsinger, CEO of Intel, and Carlos Tavares, CEO of Stellantis, both resigned following significant underperformance of their companies' stock prices compared to the broader market. Stellantis' stock is down 47% in 2024, and Intel's is down over 50%, while the S&P 500 is up over 25%. Board dissatisfaction seems to be the common thread in their departures, as both companies faced existential challenges and the need for effective turnaround strategies, which ultimately were not well received by their boards.