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Ulrike Mayrhofer, Professeur des Universités à l'IAE Nice et Directrice du Laboratoire GRM, Université Côte d’Azur

Carlos Tavares resigns: Agnelli and Peugeot families take back control

Carlos Tavares Andrea Agnelli Giovanni Agnelli Stellantis John Elkann Richard Palmer FCA Fiat Chrysler Automobiles Bpifrance FIAT

A significant rift has shaken Stellantis, the world’s fourth-largest automaker. In a dramatic turn of events, the company’s board has summoned CEO Carlos Tavares, ultimately compelling him to step down.

This development raises questions: Why would such a move occur when Stellantis posted record-breaking revenue, net profit, and free cash flow in 2023? And what role did the Agnelli and Peugeot families play in this historic decision?

Our analysis highlights the pivotal role of the Agnelli family, founders of Fiat, and the Peugeot family in Stellantis’ governance since its inception. Their influence endures: today, they control 14.4% and 7.2% of the company’s share capital, respectively.

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