Stellantis, the automotive giant, announced today that CEO Carlos Tavares has resigned, effective immediately. The decision was made by the company’s Board of Directors, chaired by John Elkann.
A special committee of the Board is currently working to appoint a new permanent CEO, with the process expected to be completed by the first half of 2025. In the interim, a new executive committee, led by John Elkann, will take the reins.
Stellantis reaffirmed its previously announced financial guidance for the full year 2024.
Henri de Castries, Stellantis’ Senior Independent Director, explained that while the company’s success has been built on a strong alignment between shareholders, the Board, and the CEO, recent differences in perspective led to today’s decision.
Chairman John Elkann expressed gratitude to Carlos Tavares for his significant contributions to Stellantis and its predecessor companies, PSA and Opel. Elkann also emphasized the company’s commitment to executing its long-term strategy and serving the interests of all stakeholders.
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