Until a new CEO is hired, the company will be led by an interim executive committee chaired by John Elkann. Elkann, the great-great-grandson of Fiat founder Giovanni Agnelli, is Stellantis's chairman and the CEO of the automaker's largest shareholder, the Agnelli family investment vehicle Exor NV.

The carmaker said it hopes to conclude a hunt for Tavares’ replacement by the first half of 2025. In the meantime, John Elkann, Stellantis chairman and CEO of its largest shareholder Exor, will lead a new interim executive committee.

Stellantis CEO Carlos Tavares abruptly announced his resignation on Sunday after leading the car giant for four years. Its board is already looking for his permanent replacement.

Stellantis has been under major scrutiny over the past year due to its extremely poor sales performances, with many of its brands, including its most popular ones, suffering from ailing sales. They were so bad,

Carlos Tavares is stepping down as Chief Executive Officer of Stellantis, effective immediately, following a sharp decline in the carmaker’s sales. As the Wall Street Journal notes, in July, the company reported that its net profit for the first half of the year had dropped by 48 percent compared to 2023.

The company's board moved quickly after Tavares' departure and was unveiling the committee to key stakeholders by Monday morning.

Stellantis CEO Carlos Tavares resigned amid strategic disagreements and financial mismanagement. Read more to see my recommendation for STLA stock.

Carlos Tavares has resigned as CEO of Stellantis. Filling the void in his absence is an interim executive committee chaired by John Elkann, according to Stellantis. The company says it will appoint a new chief executive in the first half of 2025.

Stellantis released a short statement saying the company’s board of directors accepted the resignation and they’ve already started the search for a new CEO. A decision is expected to be made during the first half of 2025 but, in the meantime, an interim executive committee will be established and lead by Chairman John Elkann.

The problem at carmaker Stellantis NV is “more about its ownership” rather than former Chief Executive Officer Carlos Tavares, according to Italian Deputy Premier Matteo Salvini.