Stellantis CEO Resigns

Stellantis CEO Carlos Tavares has stepped down after nearly four years, following disagreements with the board.

The company’s Senior Independent Director cited differing opinions as the reason for Tavares’ resignation.

Stellantis is now searching for a new CEO, expected to be announced in the first half of 2025.

Chairman John Elkann will temporarily lead the executive team during the search.

Tavares faced criticism from dealers and the United Auto Workers union after poor financial performance due to excess inventory.

Stellantis recently announced layoffs in Michigan and Ohio, attributed to mismanagement by union leaders.