Stellantis CEO Carlos Tavares resigns immediately

2024-12-02 02:49:16

(MENAFN) Carlos Tavares, CEO of Stellantis, unexpectedly announced his immediate resignation on Sunday.

The company, the world’s fourth-largest carmaker, stated that the search for a new chief executive is underway, with a decision anticipated by the first half of 2025.

In the meantime, an interim executive committee will be formed, headed by Chairman John Elkann.

"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," said Senior Independent Director Henri de Castries.

Back in October, Stellantis had announced that Tavares would retire at the end of his contract in early 2026.

Stellantis, headquartered in the Netherlands, was established in 2021 following the merger of Fiat Chrysler Automobiles and the French PSA Group.

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