Stellantis CEO Carlos Tavares has unexpectedly resigned amid disputes over strategies to combat declining sales and stock performance, leading to the formation of an Interim Executive Committee.
The Board of Directors will appoint a new CEO within the first half of 2025, as Stellantis faces significant challenges, including a 27% revenue drop and paused production of several key models.
After Tavares' resignation, the company acknowledged struggles with sales performance, especially in North America, where shipments have decreased by 36%.
The decision to sell the Arizona proving grounds and slow down production highlights Stellantis' urgent need for a strategic overhaul during this challenging market period.
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