The CEO of Stellantis, Carlos Tavares he resigned. The manager submitted his resignation and the board of directors accepted it. In its place, for now, there will be an internal company committee led by the president John Elkann. The number one of the company himself, from what we learn, personally informed the head of state, Sergio Mattarella and the Prime Minister, Giorgia Meloniof the CEO's step backwards. Resignations which, however, seem like an expulsion, at least according to the recent results of the company, which recorded a 20% drop in global deliveries of vehicles in the third quarter of 2024, with 1,148 million units distributed, compared to the same period in 2023. Sales to end customers decreased by 15%, penalized by the transition of the product portfolio and the reduction of inventories. In North America, in particular, deliveries are dropped by 36%in Europe by 17%, in the Middle East and Africa by 26% and in Asia-Pacific by 30%. Only South America goes against the trend. A crisis that has once again hit the Italian factories and their productions, and in fact the CEO's resignation relaunches the concerns of the unions and the tone of politics.
Stellantis press release – In a communicatedthe company explains that “the process for the appointment of a new permanent CEO 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 by John Elkann”. “The success of Stellantis since its creation has been based on perfect alignment between key shareholders, the Board and the CEO. However, different views have emerged in recent weeks which have led the Board and the CEO to today's decision,” said Senior Independent Director, Henri de Castries, quoted in the release. The text also includes thanks to Tavares di Elkannwho adds: “I intend to get to work immediately with our new interim Executive Committee, with the support of all our Stellantis colleagues, as we complete the process of appointing a new CEO.” The end of the relationship with the Portuguese manager was already in the air and since October the company had begun searching for a possible replacement, confirming that the group CEO would not remain beyond the end of the contract, scheduled for the beginning of 2026 Tavares' decision was therefore ahead of its time.
The reactions: “We won't miss it” – The news has relaunched the concern of the unions. “Tavares resigned. The Italian workers remain. And we want an industrial and employment plan immediately,” he wrote on Facebook Michele De Palmageneral secretary Fiom-Cgil. “We expect a new management that will provide discontinuity in the shortest possible time. The new CEO must care about the Italian factories and workers, bring car production back to Italy and relaunch the Maserati luxury hub”, he relaunched Rocco Palombellageneral secretary Uilm. “We will not regret Tavares. The supporter of the “Darwinian” theory, however, applied only to workers. Now it becomes even more urgent to reconvene John Elkann in Parliament. Tomorrow I will write to Fontana,” he said Carlo Calenda commenting on the resignation. Same request from Angelo Bonelli e Nicola Fratoianni of Avs: “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 its industrial plan is: Elkann must be heard immediately in Parliament”. “We will not miss him, his management was dramatic for Italy. Now the owners have no more excuses: present a serious industrial plan”, wrote the vice-president of the M5S on Chiara Appendino. Even harder Lega: “We are curious to know how much Carlos Tavares will get as an economic 'bonus' after his disastrous management,” we read in a note from the party. The deputies of Fratelli d'Italia also join Elkann's “summons” in Parliament, with group leader Tommaso Foti saying: “It was time for Tavares to go, but the transition to the new management requires responsibility, protection of employment and valorisation of skills. It therefore becomes even more important that John Elkann appears in Parliament as soon as possible to report on the future of Stellantis.”
