Carlos Tavares has resigned as the chief executive of Stellantis, the maker of Jeep, Fiat, Vauxhall and Peugeot cars announced on Sunday, and said it aimed to find a new leader in the first half of next year.
Previously regarded as one of the most respected executives in the auto industry, Tavares came under strong criticism earlier this year after Stellantis issued a profit warning on its 2024 results, including a forecast for a cash burn of up to €10bn, mostly blaming slow sales and bloating inventories in its key North American market.
