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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.
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El CEO de Stellantis, Carlos Tavares, renuncia mientras el fabricante de automóviles lucha con una caída del 27% en los ingresos netos.