Major automotive group CEO departs abruptly
Automotive group Stellantis has announced the sudden departure of its chief executive, Carlos Tavares. It said the board had accepted Mr Tavares’ resignation on December 1.
Stellantis formed in 2019 when Fiat Chrysler agreed to merge with the Peugeot Group. It immediately became the fourth-largest automotive group in the world. Its main brands include Fiat, Chrysler, Peugeot, Vauxhall, Citroën, Jeep, Alfa Romeo, Maserati and Dodge.
Carlos Tavares, who led Peugeot into the merger, became the new group's first chief executive. He had previously worked at Renault and had a reputation as a specialist in turning companies’ fortunes around. In recent weeks, Stellantis has announced falls in sales and factory closures.
The board said its search for a new chief executive had already begun and that it was confident of making an appointment during the first half of 2025.
