The company, facing slumping sales, announced that Carlos Tavares would step down immediately and that a search for a new chief was underway.

The CEO’s exit comes after the automaker reported a slump in sales and slashed its profit outlook earlier for this year.

Stellantis chief executive Carlos Tavares on Sunday resigned "with immediate effect", the auto giant announced, signalling differences over how to confront the group's profit slump. A collector of vintage racing cars,

(Reuters) -Shares in Stellantis slumped as much as 8.9% on Monday, hitting their lowest in more than two years, after CEO Carlos Tavares resigned abruptly on Sunday, deepening investors' worries about the turnaround of the world's No.

Milan-listed shares in Stellantis were seen opening sharply down on Monday after chief executive Carlos Tavares resigned abruptly on Sunday.

Key Takeaways Struggling automaker Stellantis on Sunday announced it had accepted the resignation of CEO Carlos Tavares.The move is effective immediately, the Jeep and Chrysler parent said.Stellantis said a process to name a permanent CEO "is well under way" and "will be concluded within the first half of 2025.

The boss of Stellantis has resigned after overseeing a sharp drop in car sales, as the Vauxhall owner struggles with the shift to electric vehicles. Carlos Tavares stepped down from his role as chief executive of the world’s fourth-largest carmaker on Sunday,