Stellantis CEO Carlos Tavares Resigns Following Boardroom Disagreements

The abrupt departure leaves the automaker without permanent leadership as it faces declining sales and strategic challenges in key markets.

Carlos Tavares, CEO of Stellantis, resigned effective immediately on December 1, following disagreements with the board of directors.
John Elkann, Stellantis chairman and Agnelli family heir, will serve as interim CEO while a special committee searches for a permanent successor, expected by mid-2025.
Tavares, credited with the successful 2021 merger of PSA and Fiat Chrysler, departs with a severance package reportedly worth tens of millions of euros.
The resignation comes during a period of declining sales, particularly in the U.S., and a recent profit warning due to high prices and quality concerns in key markets.
Stellantis shares dropped over 7% on European markets following the announcement, reflecting investor uncertainty over leadership and future strategy.