Stellantis CEO quits on US sales drop

By Reuters

Dec 03, 2024 12:09 am

MILAN/DETROIT — Stellantis CEO Carlos Tavares resigned abruptly on Sunday (Monday in Manila), two months after a profit warning at the maker of Jeep, Fiat and Peugeot cars that has lost around 40 percent of its value this year.

The company said it would seek to find a replacement CEO in the first half of 2025. Senior Independent Director Henri de Castries said in a statement that different views emerged in recent weeks among major shareholders, the board and Tavares resulting in the CEO's resignation.

Carlos Tavares, CEO of Stellantis, gestures as he speaks at the Paris Automotive Summit during the 2024 Paris Auto Show in Paris, France, on Oct. 15, 2024. REUTERS PHOTO

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