The company announces that the work of recruiting a replacement is in full swing. Until this is in place, Stellantis will be governed by a smaller group led by Chairman of the Board John Elkann.
In late September, Stellantis issued a profit warning. Profitability was then expected to land much lower than previous forecasts. The reason is, among other things, a general downturn in the global car industry, according to the company management.
Carlos Tavares took office in January 2021, when the Italian-American car manufacturer Fiat Chrysler (FCA) merged with the French Peugeot manufacturer PSA and formed Stellantis, the world's fourth largest car conglomerate.
Stellantis' brand portfolio includes, among others, Peugeot, Opel, Citroën, Fiat, and Chrysler.
