Stellantis stock fell more than 6% Monday.Despite the challenges, Stellantis’s board had given Tavares its unanimous backing to turn the automaker around as recently as October.Since then, his renewed pursuit of cost savings and other efficiencies inflamed already fractious relations with dealers,

Until a new CEO is hired, the company will be led by an interim executive committee chaired by John Elkann. Elkann, the great-great-grandson of Fiat founder Giovanni Agnelli, is Stellantis's chairman and the CEO of the automaker's largest shareholder, the Agnelli family investment vehicle Exor NV.

Carlos Tavares is out. The Stellantis CEO’s abrupt departure on Sunday arguably qualifies as a necessary evil, given the $34 billion carmaker’s painful 2024. But his successor will need to manage increasingly tricky relations with President-elect Donald Trump and the European Union,