Stellantis CEO resigns

Stellantis has announced Carlos Tavares has resigned as chief executive officer with immediate effect, accelerating the company’s plans to find his successor.

Tavares, pictured, announced in October he would retire at the end of his contract in 2026 but has now decided to step down early from his post.

The move comes after diverging views between Tavares and the board at Stellantis, whose 14 brands include Chrysler, Citroen, Fiat, Jeep, Maserati, Opel and Peugeot. 

Stellantis’ board of directors says it accepted Tavares’ resignation on December 2.

Henri de Castries, Stellantis’ senior independent director, says: “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.”

Tavares has led Stellantis since its creation through a 2021 merger between Fiat-Chrysler and Peugeot maker PSA, where he had been board chair since 2014.

The process to appoint a new permanent chief executive officer is under way and expected to be concluded within the first half of 2025. Until then, chairman John Elkann will lead a new interim executive committee.

Elkann adds: “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. 

“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.”