Carlos Tavares has presented his resignation at Stellantis where served as CEO. The group chaired by John Elkann announced this Sunday that the board of directors has accepted his resignation with immediate effect.
He group emerged in 2021 from the merger of Groupe PSA and Fiat Chrysler has detailed that the process to appoint the new permanent CEO is underway, managed by a Special Committee of the Board of Directors, and will conclude in the first half of 2025, as reported Europa Press. Until then, he has announced that will establish a new Interim Executive Committee, chaired by John Elkann.
Stellantis, in addition, has confirmed its financial forecasts presented on October 31, 2024 regarding its results for the full year 2024.
“The success of Stellantis since its creation has been based on a perfect alignment between the reference shareholders, the board of directors and the CEO. However, in recent weeks there have emerged different points of view that have given rise to the decision of the board of directors and today’s CEO,” says Stellantis senior independent director Henri de Castries.
John Elkann, for his part, thanked Carlos Tavares for his “years of dedication and the role he played in the creation of Stellantis, as well as in the previous transformations of PSA and Opel, which have placed us on the path to becoming a global leader in our industry.
He also comments that he is “looking forward to working” with the new Interim Executive Committee, with the support of all Stellantis colleagues, while they complete the process of appointing the new CEO.
“Together we will ensure the continued deployment of the company’s strategy in the long-term interests of Stellantis and all its shareholders,” he says.
Resignation announced
In October, the multinational group that owns brands such as Jepp, Fiat, Peugeot and Citroën began the search for a successor for the position of CEO held until today by Carlos Tavares, whose contract expired in 2026.
The Pressure on Tavares had been increasing due to the poor performance of Stellantis in its main markets like the United States, one of its largest sources of profits along with Europe.
In this regard, the president of the group, John Elkann was increasingly dissatisfied with the situation of the manufacturer in North America, where sales of brands such as Jeep and Dodge have slowed and several executives have left the company.
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