Stellantis CEO Carlos Tavares (C) solutions journalists’ questions after attending a go to of the manufacturing line of the brand new Peugeot e-3008 and e-5008 electrical automobile on the Stellantis automobile manufacturing unit in Sochaux, japanese France on October 3, 2024.
Frederick Florin | AFP | Getty Pictures
Stellantis CEO Carlos Tavares is stepping down after practically 4 years within the high spot of the Jeep and Ram maker, which has continued to wrestle with slumping gross sales.
The world’s fourth-largest carmaker introduced that its board accepted Tavares’ resignation on Sunday. He’ll depart his function as chief government instantly.
Stellantis famous Sunday that the method to nominate a brand new, everlasting CEO is “effectively below manner.” Within the meantime, the corporate says a brand new interim government committee, led by chairman John Elkann, will probably be established.
As head of PSA Peugeot, Tavares took management of the Netherlands-based firm in January of 2021 when it merged with Fiat Chrysler Vehicles. Its North American operations had been the corporate’s primary supply of earnings, however have struggled this yr amid bigger market modifications.
