MADRID Dec. 1 () –
Stellantis announced this Sunday that the company’s Board of Directors, under the chairmanship of John Elkann, has accepted the resignation of Carlos Tavares from his position as CEO with immediate effect.
In a statement, the group that emerged in 2021 from the merger of Groupe PSA and Fiat Chrysler has detailed that the process to appoint the new permanent CEO is underway, managed by a Special Committee of the Board of Directors, and will conclude in the first half of 2025. Until then, it has announced that a new Interim Executive Committee will be established, chaired by John Elkann.
Stellantis has also confirmed its financial forecasts presented on October 31, 2024 regarding its results for the full year 2024.
“The success of Stellantis since its creation has been based on a perfect alignment between the reference shareholders, the Board of Directors and the CEO. However, in recent weeks different points of view have emerged that have led to the decision of today’s Board of Directors and CEO,” comments Stellantis Senior Independent Director Henri de Castries.
John Elkann, for his part, thanked Carlos Tavares for his “years of dedication and the role he played in the creation of Stellantis, as well as in the previous transformations of PSA and Opel, which have placed us on the path to becoming a global leader in our industry.
He also comments that he is “looking forward to working” with the new Interim Executive Committee, with the support of all Stellantis colleagues, while they complete the process of appointing the new CEO.
“Together we will ensure the continued deployment of the company’s strategy in the long-term interests of Stellantis and all its shareholders,” he says.
A RESIGNATION ANNOUNCED
In October, the multinational group that owns brands such as Jepp, Fiat, Peugeot and Citroën began the search for a successor for the position of CEO held until today by Carlos Tavares, whose contract expired in 2026.
The pressure on Tavares had been increasing due to the poor performance of Stellantis in its main markets such as the United States, one of its largest sources of profits along with Europe.
In this regard, the group’s president, John Elkann, was increasingly dissatisfied with the manufacturer’s situation in North America, where sales of brands such as Jeep and Dodge have slowed and several managers have left the company.
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