Stellantis CEO Carlos Tavares Steps Down, Stock Tumbles

Shares of Stellantis NV experienced a significant drop of over 7% following the announcement that its Chief Executive Officer, Carlos Tavares, has resigned with immediate effect. The news sent shockwaves through European markets as investors reacted to the sudden leadership change.

According to Stellantis' Senior Independent Director, Henri de Castries, the decision was made due to recent disagreements in strategic views between Tavares and the board. The company anticipates appointing a new CEO within the first half of 2025.

The automaker's stock price dipped 7.18% to €11.628 per share at 9:06 am CET, reflecting investor uncertainty about the future direction of the company under new leadership.