Stellantis CEO Carlos Tavares holds a news conference after meeting with unions, in Turin, Italy, March 31, 2022. / Photo: Reuters
"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," Stellantis said in a statement.Senior Independent Director Henri de Castries said in a statement that the decision for Tavares to leave resulted from different views emerging in recent weeks among major shareholders, the board and Tavares.
The profit warning triggered a wide reshuffle of the group's top management, including changes of its chief financial officer and of its head of North American operations, but initially spared Tavares. Other big shareholders include the Peugeot family and the French government, through the public investment bank BPI France.