In a significant development for the automotive industry, Stellantis N.V. has announced the resignation of its Chief Executive Officer, Carlos Tavares. The decision, effective immediately, was confirmed by the Stellantis Board of Directors under Chairman John Elkann. This leadership change comes as a surprise and prompts questions about the future direction of the multinational automotive manufacturer.
The announcement, released today, stated that the process to identify and appoint a permanent CEO is already underway. A Special Committee of the Board is managing this critical task, with the aim of concluding the search within the first half of 2025. To ensure a smooth transition and maintain operational continuity, an Interim Executive Committee has been established. This committee will be chaired by John Elkann, providing strong leadership during this period of change.
Stellantis has reassured investors and stakeholders by reaffirming its financial guidance for the full year 2024, as presented on October 31, 2024. This commitment suggests that despite the CEO resignation, the company remains confident in its financial performance and strategic direction.
Henri de Castries, Stellantis’ Senior Independent Director, offered some insight into the circumstances leading to Tavares’ departure. He stated, “Stellantis’ success since its creation has been rooted in a perfect alignment between the reference shareholders, the Board and the CEO. However, in recent weeks different views have emerged which have resulted in the Board and the CEO coming to today’s decision.” This statement hints at potential disagreements in strategic vision or operational approaches between Tavares and the Board, ultimately leading to his resignation.
Chairman John Elkann acknowledged Tavares’ contributions, saying, “Our thanks go to Carlos for his years of dedicated service and the role he has played in the creation of Stellantis, in addition to the previous turnarounds of PSA and Opel, setting us on the path to becoming a global leader in our industry.” Elkann further expressed his commitment to the company’s future, stating, “I look forward to working with our new Interim Executive Committee, supported by all our Stellantis colleagues, as we complete the process of appointing our new CEO. Together we will ensure the continued deployment of the Company’s strategy in the long-term interests of Stellantis and all of its stakeholders.”
This unexpected resignation marks a pivotal moment for Stellantis. Carlos Tavares has been instrumental in the formation and early success of Stellantis, following the merger of Fiat Chrysler Automobiles and PSA Group. His departure raises questions about the future leadership and strategic evolution of one of the world’s leading automakers as it navigates a rapidly changing automotive landscape. The industry will be closely watching Stellantis as it progresses through this leadership transition and announces its new permanent CEO.
About Stellantis
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is a global automotive leader committed to providing innovative and sustainable mobility solutions. The company boasts a diverse portfolio of iconic brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move, and Leasys. Stellantis is actively pursuing its Dare Forward 2030 strategic plan, aiming to become a carbon net-zero mobility tech company by 2038. For more information, please visit www.stellantis.com.
