Advertisement Stellantis CEO Carlos Tavares's resignation comes after months of pressure.The global auto giant is in turmoil amid poor financial performance in 2024.Tavares leaves the company locked in legal battles with investors and union workers.Carlos Tavares tendered his resignation from the top job at global automaker Stellantis over the weekend after a year of mounting pressure to turnaround falling sales and shrinking margins. Dealers had accused him in September of mismanaging valuable brands that ...

Stellantis Organizational Announcement AMSTERDAM, December 2, 2024 – The process to appoint the new permanent Chief Executive Officer is well under way, managed by a Special Committee of the Board, and will be concluded within the first half of 2025. While the appointment of the new CEO is concluded the following organization is implemented with immediate effect. The Interim Executive Committee (“IEC”) will be responsible for the direction and oversight of the Company on behalf of the Board of Directors. Th ...

Key TakeawaysStellantis shares tumbled following the carmaker's announcement that CEO Carlos Tavares resigned, effective immediately.The struggling company expects to name a replacement next year.Stellantis also reiterated its 2024 outlook after warning that U.S. sales were dragging down margins. Stellantis (STLA) shares sank after the the struggling carmaker said over the weekend that CEO Carlos Tavares was stepping down, effective immediately. The company that owns brands including Chrysler, Jeep, Fiat, a ...

The automaker cited “different views” between its former CEO and board of directorsShares of Stellantis NV (NYSE:STLA) are down 7.8% to trade at $12.17 at last glance, after CEO Carlos Tavares abandoned his role on Sunday amid struggling Jeep and Ram sales. The automaker -- which is also the parent of Peugeot and Fiat -- noted “different views” between Tavares and its board of directors, and expects to replace him in the first half of 2025.Shares earlier gapped to a fresh two-year low of $12.13, and are pac ...

Stellantis CEO Carlos Tavares abruptly resigned on Sunday after four years at the helm of the automaker due to disagreements with the board.  The company said its board of directors accepted Tavares’ resignation effective immediately. The company, which owns brands such as Chrysler, Jeep, Fiat and Peugeot, said its search for Tavares' permanent replacement is "well under way" and is expected to conclude in the first half of the new year. In the meantime, a new interim executive committee, led by John Elkann ...

ToplineShares of Stellantis—the automaker that owns key brands including Jeep, Ram and Chrysler—tanked sharply on Monday morning, hours after the company announced it had accepted CEO Carlos Tavares’ abrupt resignation.Stellantis CEO Carlos Tavares announced his resignation on Sunday.Copyright 2023 The Associated Press. All rights reserved. Key FactsThe Italian-American automaker’s Paris-listed shares were down more than 7.5% to around $12.1 (€11.5) after markets opened in Europe, while its New York Stock E ...

Core Viewpoint - Stellantis shares experienced a significant decline following the resignation of CEO Carlos Tavares amid a notable drop in sales [1] Group 1: Company Leadership Changes - CEO Carlos Tavares has stepped down from his position as head of Stellantis, which is Europe's second largest car manufacturer [1] - The board of Stellantis accepted Tavares' resignation with immediate effect and plans to recruit a new CEO by the first half of 2025 [1] Group 2: Sales Performance - The resignation comes in the context of a major slump in sales for Stellantis, particularly affecting its Jeep and Renault brands [1]

Core Viewpoint - Stellantis CEO Carlos Tavares has left the company effective immediately, a decision influenced by differing views between him and the board amid a stock slump [1][2][3] Group 1: Leadership Changes - Tavares' resignation was accepted by Stellantis' board of directors, who thanked him for his service and cited "different views" as the main reason for his departure [2] - Tavares had been CEO since the formation of Stellantis in 2021, following the merger of PSA Group and Fiat Chrysler Automobiles [3] - Despite previous unanimous support from the board for Tavares, recent weeks saw emerging differences that led to the decision for his immediate exit [3] Group 2: Company Performance - Stellantis has experienced a significant decline in profits and stock value this year, contributing to the leadership change [3]

Key TakeawaysStruggling automaker Stellantis on Sunday announced it had accepted the resignation of CEO Carlos Tavares.The move is effective immediately, the Jeep and Chrysler parent said.Stellantis said a process to name a permanent CEO "is well under way" and "will be concluded within the first half of 2025." The company will be led in the meantime by an interim executive committee headed by board chair John Elkann. Struggling Jeep and Chrysler parent Stellantis (STLA) on Sunday announced it had accepted ...

Board Accepts Carlos Tavares’ Resignation as Chief Executive Officer Creation of Interim Executive Committee to be chaired by John ElkannNew CEO will be appointed in the first half of 2025Full year 2024 financial guidance confirmed AMSTERDAM, December 1, 2024 – Stellantis N.V. (“Stellantis” or “the Company”) announces that the Company’s Board of Directors, under the Chairmanship of John Elkann, accepted Carlos Tavares’ resignation today from his role as Chief Executive Officer with immediate effect. The p ...