Stellantis: immediate departure of Carlos Tavares

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Stellantis immediate departure of Carlos Tavares

Stellantis announces the resignation of Carlos Tavares as CEO with immediate effect, and the establishment of a new temporary executive committee, to be chaired by Chairman John Elkann.Henri de...

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December 02, 2024 at 01:48 am EST

Stellantis announces the resignation of Carlos Tavares as CEO with immediate effect, and the establishment of a new temporary executive committee, to be chaired by Chairman John Elkann.

Henri de Castries, Senior Independent Director of Stellantis, explains: "Over the last few weeks, different points of view have emerged, which has led the Board of Directors and the CEO to today's decision.

The automaker states that the process of appointing a new permanent CEO, managed by a special committee of the Board of Directors, is well underway and will be completed in the first half of 2025. It also confirms its 2024 targets.

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Mr. John Jacob Philip Elkann is a Chairman at Stellantis NV, a Chairman at GEDI Gruppo Editoriale SpA, a Chairman & Chief Executive Officer at EXOR NV, an Executive Chairman & Chief Executive Officer at Ferrari NV, a Chairman & Chief Executive Officer at Exor NV (Private Equity), a Chairman at Giovanni Agnelli e C. SapA, a Chairman at Fondazione Giovanni Agnelli, a Chairman at Giovanni Agnelli BV, a Chairman at Italiana Editrice SpA, an Executive Chairman at Ferrari SpA and a Member at The Brookings Institution. He is on the Board of Directors at Aspen Institute Italia, Fondazione Italia Cina and The Museum of Modern Art. Mr. Elkann was previously employed as a Chairman by Fiat Chrysler Automobiles NV, a Co-Chairman by Cushman & Wakefield, Inc., a Chairman by C&W Group, Inc., an Independent Non-Executive Director by News Corp., a Senior Non-Executive Director by CNH Industrial NV, a Non-Executive Director by Fiat Industrial SpA, a Non-Executive Director by The Economist Newspaper Ltd., a Non-Executive Director by The Economist Group Ltd., a Chairman by IFIL Investments SpA, a Chairman by Editrice La Stampa SpA, a Chairman by Istituto Finanziario Industriale SpA, a Non-Executive Director by RIT Capital Partners Plc, a Chairman & Chief Executive Officer by Exor SpA, a Member-Group Audit by General Electric Co., a Chairman by Fiat SpA, a Co-Chairman by C&W Group, Inc., a Member-Executive Board by Confindustria, a Non-Executive Director by RCS MediaGroup SpA, and a Non-Executive Director by The Economist Newspaper NA, Inc. He also served on the board at PartnerRe Ltd., SGS SA, CA Indosuez Wealth (Italy) SpA, Le Monde SA, Old Town SA and Rinascente Upim SRL. He received his undergraduate degree from Politecnico di Torino.

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Stellantis N.V. is one of the world's leading car manufacturers. The activity is essentially organized around 4 sectors: - sales of passenger cars and light commercial vehicles: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys brands; - sale of luxury vehicles: Maserati and DS Automobiles brands; - sale of automotive equipment: interior systems, car seats, car exteriors, emission control systems, etc.; - other: sales financing services (purchase, rental, leasing, etc.), after-sales services, etc.; - other: sales financing services (purchase, rental, leasing, etc.). Net sales are distributed geographically as follows: the Netherlands (0.8%), North America (46.7%), France (9.5%), Brazil (7.3%), Italy (6.2%), Germany (5.5%), the United Kingdom (4.4%), China (0.6%) and other (19%).