Stellantis CEO resigns effective immediately
Carlos Tavares, chief executive officer of Stellantis NV, beside a Citroen C5 Aircross Concept automobile at the Paris Motor Show in Paris, France, on Monday, Oct. 14, 2024. "We are finally to starting to see smaller vehicles and more affordable EVs,
Stellantis CEO Carlos Tavares submitted a letter of resignation to the board of directors. It is effective immediately.
The process to appoint the new permanent Chief Executive Officer is well under way, managed by a Special Committee of the Board, and will be concluded within the first half of 2025. Until then, a new Interim Executive Committee, chaired by John Elkann, will be established.
"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 said. "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."
UAW President Shawn Fain called Tavares' departure "a major step in the right direction."
Fain's statement:
"The UAW welcomes the resignation of Stellantis CEO Carlos Tavares, a major step in the right direction for a company that has been mismanaged and a workforce that has been mistreated for too long. For weeks, thousands of UAW members at Stellantis have been calling for the company to fire Carlos Tavares due to his reckless mismanagement of the company. We are pleased to see the company responding to pressure and correcting course.
"Tavares is leaving behind a mess of painful layoffs and overpriced vehicles sitting on dealership lots. We look forward to new Stellantis leadership that respects hardworking UAW members and is ready to keep its promise to America by investing in the people who build its products.
"We will keep using all means available to hold Stellantis accountable and enforce the contract we won in 2023, including advancing strikeable grievances until Stellantis keeps its investments and commitments to workers in Belvidere, Michigan, and beyond. We are looking forward to sitting down with the new CEO, backed up by thousands of UAW Stellantis members ready to take action, and discussing their plan to keep making world-class vehicles here in the United States."