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Stellantis N.V. has announced the resignation of Carlos Tavares as Chief Executive Officer, effective immediately. Under the leadership of Chairman John Elkann, an Interim Executive Committee will oversee operations until a new CEO is appointed in the first half of 2025.
Key Highlights
- Carlos Tavares resigns immediately as Stellantis CEO.
- John Elkann chairs the Interim Executive Committee to manage leadership transition.
- A new CEO will be appointed by mid-2025, guided by a Special Committee of the Board.
- 2024 financial guidance remains unchanged, reaffirming the company’s strategic focus.
Leadership Transition and Strategic Continuity
The Stellantis Board of Directors, led by Chairman John Elkann, has initiated the process to appoint a new CEO. A Special Committee is actively managing the selection and is expected to conclude the process by the first half of 2025. During this transition, Elkann will chair a newly formed Interim Executive Committee to ensure seamless operations.
Henri de Castries, Senior Independent Director, highlighted the recent divergence of perspectives that led to the decision. “Stellantis’ success since its creation has been rooted in a perfect alignment between the reference shareholders, the Board and the CEO. However, in recent weeks different views have emerged which have resulted in the Board and the CEO coming to today’s decision,” he stated.
Expressing gratitude for Tavares’ contributions, John Elkann remarked: “Our thanks go to Carlos for his years of dedicated service and the role he has played in the creation of Stellantis, in addition to the previous turnarounds of PSA and Opel, setting us on the path to becoming a global leader in our industry.” Elkann also reaffirmed the company’s commitment to its long-term strategy.
Financial Stability and Future Outlook
Despite the leadership change, Stellantis maintains its full-year 2024 financial guidance, reflecting confidence in its operational and strategic plans. This stability underlines the company’s commitment to its Dare Forward 2030 strategy, which includes ambitious goals such as becoming a carbon net zero mobility tech company by 2038.
For more information on Stellantis and its global initiatives, visit www.stellantis.com.
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