Stellantis CEO resigns over strategic rift with board
On 1 December 2024, the automotive world was informed about the resignation of the head of the Stellantis corporation. This move had not been previously announced, so it is no surprise that it came as a shock to many. Now, the Portuguese executive has explained the reasons behind his decision.
A disagreement over the company's strategy between its head and the board was said to be the reason for Carlos Tavares stepping down from his position. At least that is how he explained his decision to the Portuguese newspaper "Expresso". The former head of Stellantis also described his departure as amicable and stated that it was agreed upon with the chairman of the supervisory board, John Elkann, as reported by "Automotive News Europe".
According to Tavares, his plan for operating Stellantis in the admittedly challenging conditions of having to adapt to CO2 emission limits in 2025 and the ban on selling combustion cars from 2035 seemed harmful, or even destructive, to some board members. In an interview with "Expresso", Tavares stated that he decided to step down to protect the company from the consequences of discrepancies in positions between the company's head and its board.
The Stellantis group encompasses 19 car brands from Europe and the USA, and the acquisition of a stake in Leapmotor extends its reach to China. Approximately 250,000 people work in companies controlled by Stellantis. Tavares’ resignation took immediate effect. For now, the corporation is managed by an executive committee headed by John Elkann. A new president is set to be elected in the first quarter of 2025.
