The first and only Stellantis CEO, Carlos Tavares resigned today. Although the automotive conglomerate is in dire straits, the announcement is still shocking. Less than two months ago, a press release stated that the controversial Portuguese businessman would end his five-year contract in early 2026. However, that won’t be the case anymore. Today, the 66-year-old executive decided to step down, effective immediately.
The search process for a replacement is already “well underway,” which tells us that Stellantis isn’t all that surprised Tavares has called it quits. Until a successor is announced in the first half of 2025, the company will appoint a new interim executive committee chaired by John Elkann. He’s the Stellantis Chairman, Executive Director, and Ferrari Chairman.
This is not the only important change within Stellantis in recent months. Two months ago, Santo Ficili was named CEO of Maserati and Alfa Romeo, replacing Davide Grasso and Jean-Philippe Imparato, respectively. The latter was appointed Chief Operating Officer (COO) in the Enlarged Europe and the CEO of Pro One, the commercial side of Stellantis.
This is a developing story…