Stellantis CEO Carlos Tavares abruptly quits as U.S. Jeep, Ram sales falter

Move comes after profit warning, shares dropping around 40% this year

20241202 Carlos Tavares, Chief Executive Officer of Stellantis

Chief Executive Officer of Stellantis Carlos Tavares speaks at the Paris Automotive Summit during the 2024 Paris Auto Show on Oct. 15. © Reuters

MILAN/DETROIT (Reuters) -- Stellantis Chief Executive Carlos Tavares resigned abruptly on Sunday, two months after a profit warning at the maker of Jeep, Fiat and Peugeot cars that has lost around 40% of its value this year.

The company said it would seek to find a replacement CEO in the first half of 2025. Senior Independent Director Henri de Castries said in a statement the decision for Tavares to leave resulted from different views emerging in recent weeks among major shareholders, the board and Tavares.

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