End clap for Carlos Tavares. The Stellantis automobile group announced, this Sunday, December 1, the resignation “with immediate effect” of its boss, whose successor will be appointed in the first half of 2025. “The board of directors of the company, meeting today under the chairmanship of John Elkann, accepted the resignation of Carlos Tavares”, indicates the group in a press release.
“The success of Stellantis since its inception has been based on perfect alignment between the core shareholders, the board of directors and the CEO. However, in recent weeks, different points of view have emerged, which has led the board of directors and the CEO to make today’s decision”, commented Henri de Castries, director of Stellantis.
Results fall sharply in the first half
The Franco-Italian-American manufacturer indicated at the end of September that it had launched a succession process for its general director, whose mandate was to end at the beginning of 2026. “A little over a year before the expiration of a contract of five years signed in January 2021, it is completely normal for a board of directors to look into the subject with the necessary anticipation in view of the importance of the position, without this presaging future discussions”, then indicated the group in a brief press release addressed to AFP.
Stellantis, which produces Chrysler as well as Citroën, Fiat, Jeep, Dodge, Lancia, Opel, Peugeot, Ram and Vauxhall, published in July a sharp fall in first-half results, handicapped in particular by an 18% drop in sales. sales in North America, the group’s cash machine.
Carlos Tavares himself admitted at the end of July that Stellantis was going through a “very turbulent transition period” and that he expected to recover in the second half of the year.