Stellantis begins search for new CEO after Tavares steps down

Stellantis N.V. has announced that its Chief Executive Officer, Carlos Tavares, has resigned from his position effective immediately. The resignation was accepted by the Board of Directors, chaired by John Elkann.

To manage the transition, the Board will establish an Interim Executive Committee, which will also be chaired by Elkann. The search for a permanent replacement is currently underway, led by a Special Committee of the Board. The process is expected to conclude within the first half of 2025.

The company reaffirmed its financial guidance for the full year of 2024, as presented to the financial community on October 31, 2024. This indicates the continuation of Stellantis’ strategic and operational plans without disruption.

Henri de Castries, Senior Independent Director, stated that Stellantis’ achievements since its inception have been driven by alignment among its key stakeholders, including shareholders, the Board, and the CEO. However, differing perspectives in recent weeks led to the mutual decision for Tavares’ departure.

Chairman John Elkann expressed gratitude for Tavares’ contributions to Stellantis and his leadership in creating the company through previous corporate turnarounds. Elkann highlighted the importance of supporting the Interim Executive Committee and maintaining Stellantis’ strategic direction during the leadership transition.