Stellantis N.V. has announced the immediate resignation of CEO Carlos Tavares, with the company’s Board of Directors accepting his departure under the Chairmanship of John Elkann.
The global automaker will appoint a new permanent CEO by the first half of 2025, with an Interim Executive Committee, chaired by Elkann, overseeing operations in the meantime.
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The resignation follows a divergence of views between Tavares and the Board, according to Senior Independent Director Henri de Castries, who stated:
“Stellantis’ success since its creation has been rooted in a perfect alignment between the reference shareholders, the Board, and the CEO. However, in recent weeks different views have emerged, leading to today’s decision.”
Chairman Elkann expressed gratitude for Tavares’ leadership in shaping Stellantis into a global industry leader:
“Our thanks go to Carlos for his years of dedicated service and the role he has played in the creation of Stellantis and prior turnarounds of PSA and Opel. I look forward to working with the Interim Executive Committee as we ensure the continued deployment of Stellantis’ strategy in the long-term interests of our stakeholders.”
Financial Guidance Remains on Track
Despite the leadership transition, Stellantis confirmed its full-year 2024 financial guidance as presented on October 31. The company continues to focus on its strategic goals, including the ambitious Dare Forward 2030 plan, which aims to position Stellantis as a carbon net-zero mobility tech company by 2038.
Stellantis is known for its diverse portfolio of iconic automotive brands, including Jeep®, Dodge, FIAT, Peugeot, and Maserati, and remains committed to delivering clean, safe, and affordable mobility solutions to a global audience.
The search for a new CEO is being managed by a Special Committee of the Board, with results expected within the next six months.
Source: Board Announces Carlos Tavares’ Resignation as CEO
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