Carlos Tavares's resignation follows a challenging year for Stellantis, which faced criticism for its profit warning and projected cash burn in North America.
The board of Stellantis acknowledged a divergence in views between Tavares and directors, leading to the decision for his immediate resignation.
Despite leading Stellantis since its formation, recent disappointing sales and inventory issues prompted scrutiny and calls for new leadership within the company.
Stellantis's interim leadership will be managed by a committee chaired by John Elkann, aiming to appoint a new CEO by the first half of 2025.
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