Stellantis CEO Carlos Tavares is stepping down after nearly four years in the top spot of the automaker, which owns car brands like Jeep, Citroen and Ram, amid an ongoing struggle with slumping sales.

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

Stellantis' indicated Carlos Tavares' views had become misaligned with those held by the company's board and shareholders

Stellantis shares slumped as much as 8.9% on Monday to their lowest in more than two years after CEO Carlos Tavares resigned abruptly on Sunday, deepening investors' worries about efforts to turn around the world's No.

Stellantis Chief Executive Carlos Tavares has resigned, the automaker said on Sunday, adding it aimed to find a new head in the first half of 2025.

The Peugeot family holding company, a major shareholder in Franco-Italian carmaker Stellantis , on Monday expressed its continued support for the group after the surprise resignation of CEO Carlos Tavares.

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

Stellantis chief executive Carlos Tavares has stepped down "with immediate effect," the struggling Jeep and Chrysler parent announced Sunday.

Chief Executive Carlos Tavares has stepped down following a dispute with the board over how to arrest weakening sales and a stock slump, the company said on Sunday. The