Carlos Tavares has announced his resignation as the CEO of global auto-making giant Stellantis, with immediate effect.
The stepping down has come earlier than expected as Tavares announced in October he would be completing his post at the start of 2026, without extension.
However the CEO publicly ended his position prematurely due to “different views” between himself and the Board, according to the carmaker.
Stellantis’ Senior Independent Director, Henri de Castries, said:
“Stellantis’ success since its creation has been rooted in a perfect alignment between the reference shareholders, the Board and the CEO. However, in recent weeks different views have emerged which have resulted in the Board and the CEO coming to today’s decision.”
The announcement also confirmed the company’s financial forecast for the full year, which was published on 31 October 2024.
The process to appoint the new permanent Chief Executive Officer is reportedly underway and expects to be concluded within the first half of 2025. Until then, a new Interim Executive Committee, chaired by John Elkann, will be established.
Chairman, John Elkann, said:
“Together we will ensure the continued deployment of the Company’s strategy in the long-term interests of Stellantis and all of its stakeholders.”
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