The CEO of Stellantis, Carlos Tavares – according to what we learn – has resigned. The manager submitted his resignation and the board of directors accepted it.
Carlos Tavares has submitted his resignation with immediate effect, accepted by the board of directors which met today under the chairmanship of John Elkann. Stellantis makes this known. The process for the appointment of a new permanent CEO – explains the company – is already underway managed by a special committee of the board and will be concluded by the first half of 2025. In the meantime, a new executive committee chaired by Elkann will be established. Stellantis confirms the guidance presented to the financial community on October 31, 2024 in relation to full-year 2024 results.
ANSA Agency Tavares, a stubborn manager, gave birth to Stellantis – News – Ansa.it The clash with politics. He admitted 'I'm human, not a magician' (ANSA)The group had communicated a reduction in deliveries to the network of more than 200,000 vehicles in the second half of the year, double the previous estimate. The adjusted operating profit margin is expected between 5.5% and 7% for the whole of 2024, down compared to the previous “double digit”, while industrial free cash flow, previously positive, is expected to be in the red between 5 and 10 billion euros.
“We are grateful to Carlos for his continued commitment over the years and for the role he played in the creation of Stellantis, in addition to the previous relaunches of PSA and Opel, starting our journey to become a global leader in the sector. I intend get to work immediately with our new Interim Executive Committee, with the support of all our colleagues at Stellantis, as we complete the process of appointing the new CEO. Together we will ensure the timely implementation of the company's strategy in the best interests of the long term of Stellantis and all its stakeholders”. This was stated by John Elkann, president of Stellantis.
The reactions
“We are curious to know how much Carlos Tavares will get as an economic 'bonus' after his disastrous management.” So one note from the League after the resignation of the CEO of Stellantis.
“We will not regret Tavares. The supporter of the “Darwinian” theory applied however only to workers. Now it becomes even more urgent to reconvene John Elkann in Parliament. Tomorrow I will write to Fontana”. As Carlo Calenda after the resignation of the CEO of Stellantis.
“Tavares is the one who started a process of delocalization of the automotive industry in Italy, with policies that caused breakdowns and redundancies and delayed the processes of technological innovation. At this point Stellantis has the duty to say what it wants to do with its factories and what 'is his industrial plan. For these reasons we ask that Elkann be heard immediately in Parliament.” They affirm it Angelo Bonelli and Nicola Fratoianni of Avs.
“We will not miss Tavares, his management was dramatic for Italy. Now the owners have no more excuses: present a serious industrial plan. The country, businesses and workers do not need a scapegoat but a reversal of course of the company line”. The deputy and vice-president of the X writes it M5S Chiara Hanger.
“The resignation of the CEO of Stellantis, Carlos Tavares, represents a turning point for the company and for the Italian automotive sector. In recent months, we have found significant distances from the need to improve the industrial plan for our country. In particular, we found ourselves faced with a tangible worsening of the production situation, with declining volumes and negative impacts on employment, aggravated by the growing use of social safety nets. These critical issues pushed us, together with Fiom and Uilm, to proclaim jointly for October 18th a strike with a national demonstration in the auto sector, to urge Government intervention”. This was stated in a note Fim Cisl general secretary, Ferdinano Uliano. “Now, more than ever, it becomes essential to quickly identify a new CEO who can respond positively to the requests we ask and who can quickly open the necessary discussion with us to respond positively to our requests. – he continues – Our requests remain clear, strategic investments are needed in Italy, starting from the introduction of a new small production platform, new models, investments in research and development, we need to confirm the Termoli giga-factory, guarantees that there will be no plant closures and unilateral layoffs, which would have devastating consequences for families and territories. We reiterate to the Government the urgency of convening top management and trade unions at Palazzo Chigi as soon as possible.”
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