Carlos Tavares has resigned from his position as Chief Executive Officer of Stellantis with immediate effect, the company has announced. Tavares was initially expected to retire at the end of his tenure in 2026 with the decision to resign coming at a time when the conglomerate has seen sales decline across its multiple brands in global markets.
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In a statement Stellantis Senior Independent Director Henri de Castries said, “Stellantis’ success since its creation has been rooted in a perfect alignment between the reference shareholders, the Board and the CEO. However, in recent weeks different views have emerged which have resulted in the Board and the CEO coming to today’s decision.”
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Tavares’ immediate departure from the brand has resulted in the brand fast-tracking its hunt for a new CEO with a final decision to be announced in the first half of 2025. The company had previously intended to finalise a new CEO by the end 2025. Stellantis says that it is already in the process of appointing a new CEO headed by a Special Committee of the company’s Board.
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In the intervening period, the CEO role will be filled by a new Interim Executive Committee chaired by Stellantis Chairman John Elkann.
Tavares has been Stellantis’ CEO since the PSA Group and Fiat-Chrysler merged in 2020 to form the company. Prior to the merger, Tavares had held the position of CEO of the PSA Group.
