Stellantis denies report about picking Apple's Maestri as new CEO

MILAN: French-Italian car maker Stellantis on Wednesday denied a report in Corriere della Sera daily that it planned to name outgoing Apple finance chief Luca Maestri as its new chief executive.

"It is not true," a spokesman for Stellantis said, after Corriere reported that Stellantis chairman John Elkann planned to name Maestri following the departure of CEO Carlos Tavares.

Tavares resigned on Sunday, leading to a selloff of shares in the world's fourth-biggest automaker, which owns brands including Jeep, Ram, Fiat, and Peugeot.

Sources have indicated Tavares left because some Stellantis board members had deemed his aggressive targets for sales and cost cuts unrealistic or destructive.

They were also unhappy with his contentious dealings with the giant automaker's suppliers, dealers and unions, said the sources.

Details of the clashes leading to his ouster have not been previously reported.