Stellantis CEO Carlos Tavares has resigned effective immediately.
The automaker’s Board of Directors accepted Tavares’ resignation on Sunday, Dec. 1, 2024.
“Stellantis’ success since its creation has been rooted in a perfect alignment between the reference shareholders, the Board and the CEO,” said Stellantis’ Senior Independent Director, Henri de Castries. “However, in recent weeks different views have emerged which have resulted in the Board and the CEO coming to today’s decision.”
“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,” said Chairman John Elkann. “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.”
This is just another change for Stellantis, but the news of Tavares stepping down isn’t exactly shocking for the experts.
“You can reshuffle the cards as much as you want, but ultimately, he was the guy on the hook,” said auto industry insider Jim Hall. “When you have pickup trucks not selling in a pickup truck market, crossovers not selling in a crossover market; in the US, inventory is building up, there’s a problem.”
John McElroy of Autoline Detroit had similar thoughts, considering recent claims of unfair labor practices and multiple grievances on top of a decline in sales.
“It’s not at all surprising to me that Tavares is stepping down as the CEO of Stellantis because so much was going on at the company right now, and it was almost kind of surprising that the board was keeping him on. He’s made it easy for them. He’s stepping down right now, but it really is no surprise that this is happening now,” said McElroy.
According to Stellantis, a new CEO will be appointed in the first half of 2025. In the meantime, a new Interim Executive Committee, chaired by John Elkann, will be established.
