Carlos Tavares announced he would leave when his contract expired in 2026 but has officially left the company before the end of 2024. Filling the void at the head of Stellantis is an interim executive committee,

Stellantis NV CEO Carlos Tavares resigned Sunday amid the automaker’s recent declining profits, sharply falling sales this year in the United States and mounting criticism from dealers and unions in recent months.

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.