Stellantis CEO Carlos Tavares Resigns Amid Criticism Over U.S. Performance

Benzinga

The automaker announced that Stellantis CEO Carlos Tavares has resigned immediately due to "different views" with the board. Tavares played a key role in Stellantis’ 2021 formation via the Fiat Chrysler and PSA merger. He faced criticism this year for underperformance in the U.S. market, job cuts, and cost-saving measures. The United Auto Workers union and U.S. dealerships had called for Tavares’ removal. Stellantis shares have dropped more than 40% in 2024 amid revenue declines and missed targets.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Stellantis CEO Carlos Tavares is resigned immediately due to

00:06different views with the board, the automaker announced.

00:09Tavares played a key role in Stellantis' 2021 formation via the Fiat Chrysler and PSA merger.

00:15He faced criticism this year for under-persuasion to the U.S. market,

00:18job cuts, and cost-saving measures.

00:21The United Auto Workers Union and U.S. dealerships had called for Tavares' removal.

00:25Stellantis shares have dropped more than 40 percent in 2024

00:28amid revenue declines and missed targets.

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