After almost four years as CEO of Stellantis, Carlos Tavares has resigned from the company, which owns major brands such as Jeep and Chrysler. The news, announced unexpectedly on Sunday, comes as a surprise but was previously planned for in a year. Tavares was under increased pressure as the automaker's stock price has declined, and divisions within the company's leadership have been cited as a reason for his resignation. The search for a permanent replacement is underway, with interim leadership led by Stellantis' board chairman.
The highly respected CEO of Stellantis, Carlos Tavares, has resigned abruptly amid a profit warning and major shareholder concerns. The company, which owns brands such as Jeep, Fiat, and Peugeot, has seen a significant decrease in value this year. Tavares' resignation comes as a surprise, as he was not initially affected by the wide reshuffling of top management following the profit warning.