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.

Stellantis CEO Carlos Tavares abruptly announced his resignation on Sunday after leading the car giant for four years. Its board is already looking for his permanent replacement.

Carlos Tavares is out. The Stellantis CEO’s abrupt departure on Sunday arguably qualifies as a necessary evil, given the $34 billion carmaker’s painful 2024. But his successor will need to manage increasingly tricky relations with President-elect Donald Trump and the European Union,

Carlos Tavares has resigned as Stellantis CEO after nearly four years, amid plunging electric vehicle sales and rising competition from Chinese car makers. His departure highlights the mounting challenges for legacy carmakers in the EV transition.

The chief executive of the automaker Stellantis, Carlos Tavares, has resigned, the company said on Sunday, amid a decline in profits and slumping sales in its key North America region. Mr. Tavares, 66,

Stellantis released a short statement saying the company’s board of directors accepted the resignation and they’ve already started the search for a new CEO. A decision is expected to be made during the first half of 2025 but, in the meantime, an interim executive committee will be established and lead by Chairman John Elkann.

Carlos Tavares, who had been under fire and was expected to leave at the end of his contract, resigned abruptly on Sunday.

Stellantis CEO Carlos Tavares is stepping down after nearly four years in the top spot of the carmaker that owns brands like Jeep and Ram and Citroën and Peugeot

Stellantis CEO Carlos Tavares has resigned after nearly four years in the top spot of the Jeep and Ram maker, which has continued to struggle with slumping sales.

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