On October 3, 2024, Stellantis CEO Carlos Tavares (middle) answered reporters’ questions after visiting the new Peugeot e-3008 and e-5008 electric vehicle production lines at the Stellantis Automobile Factory in Sochaux, eastern France.
Frédéric Florin | AFP | Getty Images
star Chief Executive Carlos Tavares has resigned after nearly four years at the Jeep and Ram maker, which has struggled with declining sales.
The world’s fourth-largest automaker announced its board accepted Tavares’ resignation on Sunday. He will resign as CEO effective immediately.
Strantis said on Sunday that the process of appointing a new permanent chief executive “is well underway.” At the same time, the company said it would form a new interim executive committee led by Chairman John Elkann.
As head of PSA, Tavares took control of the Dutch company when it merged with Fiat Chrysler Automobiles in January 2021. The North American business has always been the company’s main source of profit, but it has been in trouble this year due to major market changes.
