Carlos Tavares has abruptly stepped down as Stellantis CEO, citing differences with the board of directors. His departure is effective immediately, the automaker announced Sunday.
Chairman John Elkann will lead a new interim executive committee while a successor search progresses, expected to conclude by mid-2025.
The move follows a challenging year for Stellantis, marked by U.S. sales declines and a 43% drop in stock value. Despite lowered guidance, analysts predict further market volatility.
This leadership change highlights internal tensions at the world’s fourth-largest automaker. Senior independent director Henri de Castries stated the company’s prior success relied on alignment among stakeholders—a balance recently disrupted.
Stellantis remains committed to stabilizing its operations during this transitional period.
