Carlos Tavares is stepping down as Chief Executive Officer of Stellantis following a sharp decline in the carmaker’s sales. A new CEO will be appointed in 2025.
Carlos Tavares is stepping down as Chief Executive Officer of Stellantis, effective immediately, following a sharp decline in the carmaker’s sales. As the Wall Street Journal notes, in July, the company reported that its net profit for the first half of the year had dropped by 48 percent compared to 2023. The resignation comes over a year earlier than Tavares’ planned retirement in early 2026.
” Tavares has led Stellantis since the company was formed in 2021 following the merger of Fiat Chrysler and Peugeot SA. Now the fourth-largest automaker in the world behind Toyota, Volkswagen, and Hyundai, Stellantis issued a profit warning on its 2024 results in September, citing widespread supply chain issues and increased competition from Chinese vehicle manufacturers.
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