SHERIDAN, WYOMING – December 1, 2024 – Stellantis N.V. today announced that its Board of Directors has accepted the resignation of Carlos Tavares from his position as Chief Executive Officer, effective immediately. This news comes as the company navigates evolving strategic priorities and prepares for the next chapter of its leadership.
Interim Leadership and CEO Search
In the wake of Tavares' departure, the Stellantis Board has established an Interim Executive Committee chaired by John Elkann, the company's Chairman. This committee will oversee the company's operations while a search for a new permanent CEO is conducted.
The search process is being managed by a Special Committee of the Board and is expected to be finalized within the first half of 2025.
Financial Guidance Remains Unchanged
Despite the leadership transition, Stellantis has confirmed its full-year 2024 financial guidance, as presented to the financial community on October 31, 2024. This indicates that the company remains confident in its ability to achieve its financial targets for the year.
Board Acknowledges Tavares' Contributions
Henri de Castries, Stellantis' Senior Independent Director, acknowledged the alignment between the Board and Tavares during his tenure, which led to significant success for the company. However, recent differences in strategic views prompted the Board and Tavares to reach a mutual decision regarding his resignation.
A New Chapter for Stellantis
Chairman John Elkann expressed gratitude for Tavares' years of service and his role in the creation of Stellantis, as well as his previous leadership at PSA and Opel. Elkann emphasized the company's commitment to continuing its strategic plan and working with the Interim Executive Committee to ensure a smooth transition to a new CEO.
About Stellantis
Stellantis N.V. is one of the world's leading automakers, formed through the merger of Fiat Chrysler Automobiles and the PSA Group. The company is committed to providing clean, safe, and affordable mobility solutions. Stellantis boasts a diverse portfolio of iconic brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, and Vauxhall.
Looking Ahead
The leadership transition at Stellantis marks a significant moment in the company's journey. As the automotive industry continues to evolve, Stellantis remains focused on its Dare Forward 2030 strategic plan, which aims to achieve carbon net zero by 2038. The appointment of a new CEO will be crucial in shaping the company's direction and navigating the challenges and opportunities that lie ahead.