Stellantis CEO Carlos Tavares Resigns

Stellantis CEO Carlos Tavares Resigns

File photo - Carlos Tavares, General Manager of Stellantis at the Inauguration of Symbio factory gigafactory in Saint Fons near Lyon, France on December 5, 2023. Stellantis Chief Executive Carlos Tavares resigned abruptly on Sunday, two months after a profit warning at the maker of Jeep, Fiat and Peugeot cars that has lost around 40% of its value this year. The company said it would seek to find a replacement CEO in the first half of 2025. Senior Independent Director Henri de Castries said in a statement that different views emerged in recent weeks among major shareholders, the board and Tavares resulting in the CEO's resignation. Photo by Julien Reynaud/APS-Medias/ABACAPRESS.COM

Michelin Rolls Out Its Own Global Living Wage

Michelin Rolls Out Its Own Global Living Wage

File photo dated December 5, 2023 shows Florent Menegaux, President of Group MIchelin at the Inauguration of Symbio factory gigafactory in Saint Fons near Lyon, France. After realizing that the minimum wage in its home country left some workers at breaking point, French tire-maker Michelin has taken matters into its own hands to give employees a hefty pay raise. Michelin is rolling out its own living wage to its 132,000 employees, the company said in a press release shared with Fortune and first reported by French publication Le Figaro. The 134-year-old group, which makes heavy-duty tires for construction and freight-handling companies, has set living wages for employees based on their location to correlate with living costs. The calculation for the living wage was also made based on what employees needed to provide for their family’s “essential needs.” Photo by Julien Reynaud/APS-Medias/ABACAPRESS.COM