Stellantis NV CEO Carlos Tavares resigned Sunday amid the automaker’s recent profit struggles, a sales decline in the United States, and mounting pressure in recent months from dealers and unions.
The carmaker said in an announcement that the company’s board had accepted Tavares’ resignation, effective immediately. The announcement said there had been diverging views recently between the Stellantis board and Tavares, and that “resulted in the board and the CEO coming to today’s decision,” according to a statement from Henri de Castries, Stellantis senior independent director.
A search process for a new CEO had already been underway — as Tavares was expected to depart once his contract expired in early 2026 — and the company pledged in a statement that it will finalize new leadership in by the first half of next year.
Until then the company said a new interim executive committee chaired by John Elkann, also the company’s overall board chair, will guide the company.
“Our thanks go to Carlos for his years of dedicated service and the role he has played in the creation of Stellantis, in addition to the previous turnarounds of PSA and Opel, setting us on the path to becoming a global leader in our industry,” Elkann said in a statement.
“I look forward to working with our new Interim Executive Committee, supported by all our Stellantis colleagues, as we complete the process of appointing our new CEO. Together we will ensure the continued deployment of the Company’s strategy in the long-term interests of Stellantis and all of its stakeholders.”
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