Stellantis CEO Carlos Tavares is stepping down after nearly four years in the top spot of the carmaker that owns brands like Jeep and Ram and Citroën and Peugeot

Carlos Tavares, who had been under fire and was expected to leave at the end of his contract, resigned abruptly on Sunday.

Stellantis CEO Carlos Tavares has unexpectedly resigned from the automaker amid increasingly "different views" between the executive and the board of directors.

Stay up to date with the latest news, trends and innovations that are driving the global automotive industry with the Reuters Auto File newsletter. Sign up here.

Tavares was known for his aggressive cost-cutting strategies, first at the French group PSA and later at Stellantis after its merger with Fiat

Stellantis CEO Carlos Tavares is out at the company, effective immediately and a year earlier than his planned exit, the automaker announced Sunday.

Tavares' sudden departure caps a series of problems this year for the automaker, especially in the United States.

Stellantis, the maker of Jeep, Fiat and Puegeot, announced on Sunday that CEO Carlos Tavares has resigned.

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

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

The global automaker’s sales in North America declined over the past year because of high-cost models that dealers struggled to sell.