Stellantis CEO Carlos Tavares Resigns Amid US Troubles and Falling Sales

Stellantis announced that CEO Carlos Tavares unexpectedly resigned due to increasing "divergent views" among executives and the board of directors. The world's fourth-largest automaker stated that the board accepted Tavares' resignation on Sunday. Stellantis indicated that the process of appointing a new CEO is "proceeding well" and expects to conclude the search in the first half of next year. In the meantime, it was also announced that a new interim executive committee would be formed under the leadership of Chairman John Elkann.

Henri de Castries, Stellantis' senior independent director, stated, "The success achieved by Stellantis since its inception is based on the excellent alignment among reference shareholders, the Board, and the CEO. However, in recent weeks, divergent views emerged that led the Board and CEO to make today's decision." Tavares' resignation came less than two months after he announced he would retire at the end of his contract in early 2026. At that time, Stellantis had mentioned plans to identify a successor by the fourth quarter of next year.