Carlos Tavares quits as Stellantis CEO

The chief executive officer of Stellantis, Carlos Tavares, has resigned with immediate effect, over differences in the strategic direction of the company.

Stellantis, which owns several vehicle brands including Vauxhall, Peugeot, Fiat, Citroen, said that the process to appoint the new permanent CEO is under way, with an announcement expected in the first half of 2025. 

A new Interim executive committee, chaired by John Elkann, will be established until that appointment is made.

Henri de Castries, senior independent director at Stellantis, said: “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.”

Tavares has been a vocal critic of the UK’s electric vehicle (EV) sales targets contained within the zero emission vehicle (ZEV) mandate. 

Last month, Stellantis announced plans to consolidate its electric van production in the UK at its Ellesmere Port plant, closing its factory in Luton and putting 1,100 jobs at risk.  

It blamed the UK’s ZEV mandate, which requires more than a fifth (22%) of cars and 10% of vans sold by manufacturers in the UK to be fully electric vehicles (EVs) this year.   

Stellantis 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.”

Stellantis was created in 2021 through the merger of PSA Peugeot and Fiat Chrysler Automobiles.

Stellantis announced that it was looking for a successor for Tavares in September, as part of a planned leadership change. Tavares’ five-year contract was a little over a year from its expiration date in 2026, but the company said at the time that it was possible he might remain in the job beyond that. 

However, the company revealed last week that Tavares would be stepping down in early 2026, before he decided to resign with immediate effect over the weekend.