Stellantis CEO Carlos Tavares resigns as the carmaker struggles with a 27% drop in net revenues.

Stellantis CEO Carlos Tavares has resigned after nearly four years, as the fourth-largest carmaker faces declining sales and profits. The company, which owns brands like Jeep and Ram, has seen a 27% drop in net revenues. Stellantis shares have fallen by 40% this year, underperforming competitors like Ford and GM. An interim executive committee headed by John Elkann will manage the company until a new CEO is appointed by mid-2025. Tavares' exit follows disagreements with the board over the company's strategic direction.

December 01, 2024
158 Articles