The carmaker said a special committee of directors will now recruit a permanent replacement for Tavares, adding the search is already "well under way". This suggests the question of whether the CEO jumped or was pushed is largely academic as trust had already been irreparably damaged—a conclusion supported by the wording of the statement.
In recent weeks different views have emerged, which have resulted in the board and the CEO coming to today's decision," said senior independent director Henri de Castries in the statement.
Together we will ensure the continued deployment of the company's strategy in the long-term interests of Stellantis and all of its stakeholders, said Elkann, the latter likely a reference not just to its workforce but its struggling U.S. dealers as well.
It's a complete reversal of fortune for Stellantis, which has amassed ownership of over a dozen car brands including Fiat, Peugeot and Opel thanks to two transformational merger deals completed over the past decade.
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