Stellantis' indicated Carlos Tavares' views had become misaligned with those held by the company's board and shareholders

John Maynard did not expect the CEO of his company to resign suddenly, but he sure was welcoming it. "About time," said Maynard. "The things he's been doing just doesn't sit right for me."

Carlos Tavares has resigned as CEO of Stellantis. Filling the void in his absence is an interim executive committee chaired by John Elkann, according to Stellantis. The company says it will appoint a new chief executive in the first half of 2025.

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.

Stellantis CEO Carlos Tavares is stepping down after nearly four years in the top spot of the carmaker that owns brands like Jeep and Ram and Citroën and Peugeot