From CNBC: 2024-12-01 18:04:21

Carlos Tavares resigns as CEO of Stellantis due to differing views with the board. The search for a new CEO is underway, with an interim committee led by chairman John Elkann. Tavares led the company since its creation in 2021 but faced challenges with underperforming financial results in the U.S. market.

Stellantis’ stock in 2024 has declined by 43%. Tavares implemented cost-cutting measures, reducing headcount by 15.5% since 2019. The company faced backlash from unions and dealerships for layoffs and production cuts. Despite attempts to correct mistakes, Stellantis reported a 27% decline in third-quarter net revenues and a 20% decline in global vehicle sales.



Read more at CNBC: Stellantis CEO Carlos Tavares resigns amid problems in U.S.