Stellantis CEO Carlos Tavares abruptly announced his resignation on Sunday after leading the car giant for four years. Its board is already looking for his permanent replacement.

The chief executive of the automaker Stellantis, Carlos Tavares, has resigned, the company said on Sunday, amid a decline in profits and slumping sales in its key North America region. Mr. Tavares, 66,

Carlos Tavares is out. The Stellantis CEO’s abrupt departure on Sunday arguably qualifies as a necessary evil, given the $34 billion carmaker’s painful 2024. But his successor will need to manage increasingly tricky relations with President-elect Donald Trump and the European Union,

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.

Carlos Tavares has resigned as CEO of Stellantis. Filling the void in his absence is an interim executive committee chaired by John Elkann, according to Stellantis. The company says it will appoint a new chief executive in the first half of 2025.

Carlos Tavares, who had been under fire and was expected to leave at the end of his contract, resigned abruptly on Sunday.

Stellantis CEO Carlos Tavares is stepping down after nearly four years in the top spot of the carmaker that owns brands like Jeep and Ram and Citroën and Peugeot

The abrupt resignation of Stellantis CEO Carlos Tavares sent shares in the world's No. 4 carmaker to more than two-year lows on Monday as investors questioned its turn-around plans. Tavares' exit leaves a void at the top of the company as management scrambles to address overcapacity and bloated inventory in the U.

Stellantis (STLA) stock sank on Monday after CEO Carlos Tavares abruptly handed in his resignation as issues pile up at the automaker.