Carlos Tavares is stepping down as Chief Executive Officer of Stellantis, effective immediately, following a sharp decline in the carmaker’s sales. As the Wall Street Journal notes, in July, the company reported that its net profit for the first half of the year had dropped by 48 percent compared to 2023.
The resignation comes over a year earlier than Tavares’ planned retirement in early 2026. In a statement, Stellantis senior independent director Henri de Castries said that “different views have emerged” between Tavares and the Stellantis board of directors in recent weeks that drove the decision. A special board committee headed by Stellantis chairman John Elkann will lead the company behind brands like Vauxhall, Jeep, Fiat, Dodge,…
