Nov 1, 2019

Carlos Tavares is set as CEO of the auto industry's next giant

PSA Groupe CEO Carlos Tavares. Photo: Julien de Rosa/IP3 via Getty Images

Carlos Tavares, a weekend racer with a gutsy instinct on and off the track, will soon be in charge of the world's fourth-largest automaker.

Why it matters: Since last year's death of Fiat Chrysler's Sergio Marchionne and arrest of Renault-Nissan's Carlos Ghosn, the global auto industry has been looking for its next Lee Iacocca or Bob Lutz. Here comes Tavares.

Driving the news: The Portugal-born boss of France's PSA Groupe is slated to become CEO in a 50-50 merger between the Peugeot parent and Fiat Chrysler Automobiles.

As I reported in Forbes in 2017, Tavares is a dynamic, thoughtful leader who keeps his eyes on what's ahead.

  • Once a top lieutenant to Ghosn, he got canned after telling a reporter he wanted to be CEO. A few months later, he got his wish at the nearly bankrupt PSA.
  • He has a reputation for efficiency, turning loss-producing businesses into moneymakers, but his challenge now will be navigating the disruptive technology changes roiling the industry.
  • He's prepared to adapt. "We are dinosaurs," he told me in 2017. "And if we don't want to disappear like dinosaurs, we have to operate in a different way."

What to watch: The industry is taking note of Tavares' ambition. "Number 4 is not his goal," one exec told me. "If I’m Toyota, GM or VW, I’m shaking in my boots."

Go deeper... Report: Fiat Chrysler and France's PSA agree to merger terms

Go deeper

The wreckage of summer

Illustration: Sarah Grillo/Axios

We usually think of Memorial Day as the start of the summer, with all of the fun and relaxation that goes with it — but this one is just going to remind us of all of the plans that have been ruined by the coronavirus.

Why it matters: If you thought it was stressful to be locked down during the spring, just wait until everyone realizes that all the traditional summer activities we've been looking forward to are largely off-limits this year.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 5,428,605 — Total deaths: 345,375 — Total recoveries — 2,179,408Map.
  2. U.S.: Total confirmed cases as of 8 a.m. ET: 1,643,499 — Total deaths: 97,722 — Total recoveries: 366,736 — Total tested: 14,163,915Map.
  3. World: White House announces travel restrictions on Brazil Over 100 cases in Germany tied to single day of church services.
  4. Public health: Officials are urging Americans to wear masks over Memorial Day.
  5. Economy: White House economic adviser Kevin Hassett says it's possible the unemployment rate could still be in double digits by November's election.
  6. Federal government: Trump attacks a Columbia University study that suggests earlier lockdown could have saved 36,000 American lives.
  7. What should I do? Hydroxychloroquine questions answeredTraveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 5 hours ago - Politics & Policy

U.S. coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios. This graphic includes "probable deaths" that New York City began reporting on April 14.

The CDC is warning of potentially "aggressive rodent behavior" amid a rise in reports of rat activity in several areas, as the animals search further for food while Americans stay home more during the coronavirus pandemic.

By the numbers: More than 97,700 people have died from COVID-19 and over 1.6 million have tested positive in the U.S. Over 366,700 Americans have recovered and more than 14.1 million tests have been conducted.