Car industry Stellantis CEO Tavares resigns with immediate effect

The head of the Stellantis car group, Carlos Tavares, has resigned with immediate effect. The Board of Directors has already accepted the resignation of the 66-year-old Portuguese national, the multinational car manufacturer announced on Sunday evening.

The company cited differences of opinion as the reason for this, but did not provide any details.

The search for a successor should be completed in the first half of 2025, Stellantis explained. Until then, John Elkann, Chairman of the Board of Directors, will take over the position.

Change was planned for 2026

In September, the Group had already announced that Tavares would leave Stellantis at the beginning of 2026 at the end of his five-year contract. Stellantis also announced several personnel changes at senior management level with immediate effect. Stellantis had previously had to make a significant downward correction to its expected profit margin for the current year.

After a long career at Renault, the Portuguese Tavares moved to the top of French competitor PSA (Peugeot-Citroën) in 2014. With the merger of PSA with Fiat-Chrysler, he became CEO of the resulting Stellantis Group in 2021. Other brands in the group include Opel, Alfa Romeo, Dodge and Lancia.

SDA