Amsterdam, Netherlands – In a significant development for the automotive industry, Stellantis N.V. has announced the resignation of its Chief Executive Officer, Carlos Tavares. The decision, effective immediately, was accepted by the Company’s Board of Directors, chaired by John Elkann, earlier today.
The announcement signals a period of transition for Stellantis, one of the world’s leading automakers. According to the official statement, the process to identify and appoint a permanent successor to Carlos Tavares is already underway. A Special Committee of the Board is managing this critical task, with the aim of concluding the appointment within the first half of 2025.
To ensure continued leadership and strategic direction during this interim period, Stellantis will establish a new Interim Executive Committee. This committee will be chaired by John Elkann, providing stability and guidance as the company navigates this leadership change.
Despite the unexpected resignation of its CEO, Stellantis has reaffirmed its financial outlook for the current year. The company confirmed the full year 2024 guidance previously presented to the financial community on October 31, 2024, indicating a commitment to its ongoing strategic objectives and financial targets.
Henri de Castries, Stellantis’ Senior Independent Director, offered insights into the circumstances leading to Tavares’ departure. “Stellantis’ success since its creation has been rooted in a perfect alignment between the reference shareholders, the Board and the CEO,” he stated. “However, in recent weeks different views have emerged which have resulted in the Board and the CEO coming to today’s decision.” This suggests that a divergence in strategic vision or operational approach may have prompted the resignation.
Chairman John Elkann acknowledged Tavares’ contributions to the company and its predecessors. “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 commented. He further expressed confidence in the interim leadership arrangements, stating, “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.”
About Stellantis
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) stands as a global automotive leader, committed to delivering clean, safe, and affordable mobility solutions. The company boasts a diverse portfolio of iconic and innovative brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move, and Leasys. Stellantis is actively pursuing its Dare Forward 2030 strategic plan, a comprehensive roadmap aimed at transforming the company into a carbon net zero mobility tech entity by 2038, while generating substantial value for all stakeholders. For further details, please visit www.stellantis.com.
