UAW boss Shawn Fain, who criticized Tavares in the past, said the move is “a major step in the right direction.”
Stellantis CEO Carlos Tavares has resigned. An Interim Executive Committee led by chairman John Elkman has been established. The company's Board of Directors will appoint a new CEO 'within the first half of 2025.' Carlos Tavares has suddenly resigned from his position as Chief Operating Officer at Stellantis, one of the largest car manufacturers in the world. The decision was announced yesterday evening and the board of directors has already accepted Tavares’ resignation.
In the third quarter, Stellantis reported a 27% drop in revenue and a 20% decline in shipments globally. In North America, the picture is even bleaker, with shipments down 36%. Earlier this year, the automaker announced it would sell its massive Arizona proving grounds by the end of the year as a cost-cutting measure.
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