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Stellantis NV CEO Carlos Tavares speaks to the media at the Stellantis car plant in Sochaux, France, Thursday, Oct. 3, 2024.
Nathan Laine | Bloomberg | Getty Images
DETROIT – Star The company’s CEO, Carlos Tavares, has resigned unexpectedly amid “increasing differences of opinion” between the CEO and the board of directors, the company said on Sunday.
The world’s fourth-largest automaker said its board accepted Tavares’ resignation on Sunday. His departure is effective immediately.
Stellantis said the process to appoint a new CEO is “well underway” and that it expects to complete the search in the first half of next year. Until then, the company said it will form a new interim executive committee led by chairman John Elkann.
“The success of Stellantis since its inception is rooted in the perfect alignment between the reference shareholders, the board and the CEO. However, in recent weeks, different opinions have emerged, which have led the board and the CEO to reach today’s decision,” Henri. de Castries, Senior Independent Director of Stellantis, said the release.
Tavares’ resignation comes less than two months after the company announced he would retire at the end of his contract at the beginning of 2026. At the time, Stellantis said he expected to name aa’s replacement by the fourth quarter of next year.
Tavares has led Stellantis since its inception through the 2021 merger of Fiat Chrysler Automobiles and PSA Groupe, where he had been chairman since 2014.
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