Carlos Tavares resigned as Stellantis CEO. The new CEO will be appointed by H1, 2025
Disagreements with the Board had grown wider and wider, and declining sales had investors breathing down their necks. Critical situations include worrisome U.S. sales trends and open conflict with the Italian government over job cuts. In the background is the loss of competitiveness of the European auto industry and the massive investment in electrification.
Stellantis’ Board of Directors, under the Chairmanship of John Elkann, accepted Carlos Tavares’ resignation from his role as Chief Executive Officer with immediate effect.
Disagreements with the Board had grown wider and wider, and declining sales had investors breathing down their necks. Critical situations include worrisome U.S. sales trends and open conflict with the Italian government over job cuts. In the background is the loss of competitiveness of the European auto industry and the massive investment in electrification.
One of the last statements of Carlos Tavares as Stellantis’ CEO
In October 2024 he said: “Others have created chaos and you ask me to resolve the situation and guarantee jobs. I am not a magician, I am a human being like you. You ask me to solve problems created by others, to solve those situations I may have to do things that will not be well received.”
The process to appoint the new permanent Chief Executive Officer is well under way, managed by a Special Committee of the Board, and will 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: “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. Together we will ensure the continued deployment of the Company’s strategy in the long-term interests of Stellantis and all of its stakeholders.”
