Carlos Tavares Design: CEO of the company that made ‘Jeep’ resigns
New Delhi| Carlos Tavares, CEO of Stellantis, a car maker of renowned brands including Chrysler, Jeep, Fiat and Peugeot, has resigned. Carlos decided to step down after differences with the board, disappointing sales and calls for his removal as CEO arose, the company reported.
Carlos Tavares has stepped down after stellantis sales fell sharply, dealers had a surplus of unsold vehicles, layoffs at several plants, and calls for resignation from the United Auto Workers union (which represents its U.S. employees). Apart from this, his tenure was also sharply criticized by a council of American dealers. Stellantis senior independent director Henri de Castries said in a statement that Tavares and Stellantis’ board of directors “had different views”, leading to his resignation.
Tavares, a 66-year-old Portuguese businessman, was at the heart of a deal to merge French automaker PSA Group, Peugeot’s maker and European-American automaker Fiat-Chrysler into the newly renamed Stellantis. It is the fourth largest automaker in the world after Toyota, Volkswagen Group and Hyundai Motor Group. Prior to that deal concluded in January 2021 he was the chairman of the PSA Group. Earlier this year, it was announced that Tavares would retire at the end of his contract in early 2026.
