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.