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Stellantis CEO Carlos Tavares Resigns Amid Fallen Sales Of Jeep And Ram Brands In U.S
Stellantis CEO Carlos Tavares resigns with the company citing “different views” between him and the board of directors.
Tavares played a major role in the creation of Stellantis in a 2021 merger of Fiat Chrysler Automobiles and France’s Peugeot SA.
Stellantis has 14 brands in its portfolio, including Jeep and Ram as well as premium brands like Alfa Romeo and Maserati.
Amid a decline in profits and slumping sales in key North America region, Carlos Tavares has officially resigned from his position as Chief Executive Officer (CEO) at Stellantis NV, with the company citing “different views” between him and the board of directors.
In an official statement released late on Sunday December 2nd 2024, Stellantis noted that the process to appoint the new permanent Chief Executive Officer in the first half of 2025 is well under way.
Until then, the company said it will establish a new Interim Executive Committee led by chairman John Elkann. Speaking on Tavares’ resignation, Chairman John Elkann said:
“Our thanks go to Carlos for his years of dedicated service and the role he has played in the creation of Stellantis, in addition to the previous turnarounds of PSA and Opel, setting us on the path to becoming a global leader in our industry.
Carlos Tavares
“I look forward to working with our new Interim Executive Committee, supported by all our Stellantis colleagues, as we complete the process of appointing our new CEO. Together we will ensure the continued deployment of the Company’s strategy in the long-term interests of Stellantis and all of its stakeholders.”
Stellantis’ Senior Independent Director, Henri de Castries, commented:
“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.”
66 year old Tavares played a major role in the creation of Stellantis in a 2021 merger of Italian-American automaker Fiat Chrysler and France’s Peugeot SA Group. Stellantis currently has 14 brands in its portfolio, including Dodge, Jeep and Ram as well as premium brands like Alfa Romeo and Maserati.
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