Automaker Stellantis announced the immediate resignation of CEO Carlos Tavares on Sunday. The board of directors has accepted the resignation. A successor will be appointed in the first half of 2025, Stellantis said in a press release.
The dismissal is the result of “different positions” between the board of directors and the CEO, Henri de Castries, independent board member of Stellantis, said in the press release.
The process to appoint a new CEO has been underway since the end of September. Tavares planned to resign at the end of his term in January 2026. That process must be completed in the first semester of 2025.
Stellantis is the parent company of Opel, Fiat, Peugeot, Citroën, Jeep and Alfa Romeo, among others. Sales of the car giant continue to sputter. In the third quarter it sold a fifth fewer cars and saw its turnover plummet by more than a quarter.