Stellantis CEO Carlos Tavares has left the company, effective immediately, the automaker announced on Sunday.
In a statement, Stellantis announced the company’s board of directors had accepted Tavares’ resignation, thanking him for his years of service and pointing to “different views” as the primary reason for his departure.
“Stellantis’ success since its creation has been rooted in a perfect alignment between the reference shareholders, the Board and the CEO,” Stellantis’ Senior Independent Director, Henri de Castries, said in the statement.”However, in recent weeks different views have emerged which have resulted in the Board and the CEO coming to today’s decision.”
Tavares had served as Stellantis CEO since 2021 when PSA Group merged with Fiat Chrysler Automobiles to form the company. While Stellantis has seen its profits shrink and stock slump dramatically this year, the company’s board, in an October statement, previously indicated it was “unanimous in its support of Carlos Tavares” and that he would continue to serve in the role until the end of his contract in early 2026.
Representatives for Stellantis did not immediately respond to a request for comment from Business Insider.
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