Board Accepts Carlos Tavares’ Resignation as Chief Executive Officer
Rhea-AI Summary
Stellantis announces CEO Carlos Tavares' immediate resignation, accepted by the Board of Directors under John Elkann's chairmanship. An Interim Executive Committee, chaired by Elkann, will lead the company while a permanent CEO search concludes in H1 2025. The resignation follows emerging 'different views' between the Board and CEO. The company confirms its full-year 2024 financial guidance previously presented on October 31, 2024. Senior Independent Director Henri de Castries noted that while Stellantis' success was built on alignment between shareholders, Board, and CEO, recent weeks saw diverging perspectives leading to this decision.
Positive
- Full-year 2024 financial guidance remains unchanged
- Structured transition plan with Interim Executive Committee established
- Clear timeline for new CEO appointment (H1 2025)
Negative
- Immediate CEO departure indicates potential strategic disagreements
- Leadership uncertainty during transition period
- Governance instability due to diverging views between Board and CEO
Board Accepts Carlos Tavares’ Resignation as Chief Executive Officer
- Creation of Interim Executive Committee to be chaired by John Elkann
- New CEO will be appointed in the first half of 2025
- Full year 2024 financial guidance confirmed
AMSTERDAM, December 1, 2024 – Stellantis N.V. (“Stellantis” or “the Company”) announces that the Company’s Board of Directors, under the Chairmanship of John Elkann, accepted Carlos Tavares’ resignation today from his role as Chief Executive Officer with immediate effect.
The process to appoint the new permanent Chief Executive Officer is well under way, managed by a Special Committee of the Board, and will be concluded within the first half of 2025. Until then, a new Interim Executive Committee, chaired by John Elkann, will be established.
Stellantis confirms the guidance it presented to the financial community on October 31, 2024, in respect of its full year 2024 results.
Stellantis’ Senior Independent Director, Henri de Castries, commented: “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.”
Chairman John Elkann said: “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. I look forward to working with our new Interim Executive Committee, supported by all our Stellantis colleagues, as we complete the process of appointing our new CEO. Together we will ensure the continued deployment of the Company’s strategy in the long-term interests of Stellantis and all of its stakeholders.”
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About Stellantis
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automakers aiming to provide clean, safe and affordable freedom of mobility to all. It’s best known for its unique portfolio of iconic and innovative brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Stellantis is executing its Dare Forward 2030, a bold strategic plan that paves the way to achieve the ambitious target of becoming a carbon net zero mobility tech company by 2038, with single-digit percentage compensation of the remaining emissions, while creating added value for all stakeholders. For more information, visit www.stellantis.com.
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For more information, contact: Bertrand BLAISE +33 6 33 72 61 86 – bertrand.blaise@stellantis.com Fernão SILVEIRA +31 6 43 25 43 41 – fernao.silveira@stellantis.com communications@stellantis.com www.stellantis.com | ||||||||
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