FCA and Groupe PSA Merger CEO Steps Down Ahead of Schedule

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CEO Resignation,Automotive Industry,Stellantis

Carlos Tavares, the CEO of Stellantis, the company formed from the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA, has resigned unexpectedly. The board cited emerging disagreements and a need for alignment among stakeholders.

The CEO who presided over the merger of Fiat Chrysler Automobiles and Groupe PSA has quit ahead of schedule. The board of automotive giant Stellantis, chaired by John Elkann, confirmed overnight it had accepted CEO Carlos Tavares’ resignation with immediate effect. “Stellantis’ success since its creation has been rooted in a perfect alignment between the reference shareholders, the Board and the CEO,” said Stellantis senior independent director Henri de Castries.

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