Stellantis CEO Carlos Tavares Resigns

Stellantis CEO Carlos Tavares resigned from his position this weekend. The news was announced last nightSunday.

The executive's work had been questioned for some time, not least because of the worrying results of the group's American brands, Chrysler, Jeep and Ram.

A few weeks ago, Stellantis announced that Tavares' contract would not be renewed when it expired in early 2026, at which point he would retire. Clearly, there was a lot going on behind the scenes, which ultimately led to this announcement.

According to Bloomberg, the CEO's resignation is a result of a dispute with the Board of Directors over how to turn around the share price collapse. In the third quarter of this year, Stellantis’ sales plummeted by 27 percent, while worldwide deliveries fell by 20 percent. In North America, deliveries of new models are down a catastrophic 36 percent.

Stellantis has set up an interim executive committee to take over from Tavares until a new CEO is appointed “in the first half of 2025”. Chairman John Elkman will head the committee.

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