Stellantis CEO Carlos Tavares resigns from struggling carmaker
CEO Resigns
Stellantis CEO Carlos Tavares resigns from struggling carmaker with immediate effect.
Sales Decline
Dealers have criticized the automaker for not releasing affordable vehicles, leading to a drop in sales.
Leadership Change
A special board committee will lead Stellantis until a new CEO is appointed within the first half of 2025.
Challenges Faced
Stellantis issued a profit warning on its 2024 results due to supply chain issues and increased competition from Chinese vehicle manufacturers.