Stellantis NV announced another shakeup of its management ranks as the automaker deepens an overhaul following the ouster of Chief Executive Officer Carlos Tavares.

Stellantis announced management changes on Monday as part of a shake-up at the world's fourth-largest automaker launched after the shock exit CEO Carlos Tavares in December. The search for a new permanent CEO is "well under way",

STELLANTIS is planning another shakeup of its management ranks as the automaker deepens its overhaul following the ouster of chief executive officer Carlos Tavares, according to sources familiar with the matter.

Stellantis announced on Monday an internal overhaul aimed at simplifying its structure and speeding up processes, as the carmaker presses ahead with a reorganisation it started after former CEO Carlos Tavares left in December.

Stellantis on Monday said it was simplifying its organization and speeding up processes, giving a more significant role to regions which will have more decisional and executive power at a local level as the automaker presses ahead with a reorganisation it started after former CEO Carlos Tavares resigned and John Elkann took the helm of the Interim Executive Committee on December 2.