Stellantis Chief Executive stepping down one week after Luton plant closure announcement
Carlos Tavares has been in the top spot for four years
Stellantis chief executive Carlos Tavares has announced he is stepping down after nearly four years in the top spot of the Jeep and Ram maker, which has continued to struggle with slumping sales.
The world's fourth-largest carmaker announced that its board accepted Mr Tavares' resignation on Sunday. He will leave his role as chief executive immediately.
Last week, the company announced plans to shut its Luton van-making factory next April, putting more than 1,100 jobs at risk.
The closure forms part of the group's proposal to consolidate its UK manufacturing of vans to create an all-electric hub at its Ellesmere Port plant, in Cheshire.
Stellantis noted on Sunday that the process to appoint a new, permanent chief executive is "well under way".
In the meantime, the company says a new interim executive committee, led by chairman John Elkann, will be established.
As head of PSA Peugeot, Mr Tavares took control of the Netherlands-based company in January 2021 when it merged with Fiat Chrysler Automobiles.
Its North American operations had been the company's main source of profits, but have struggled this year amid larger market changes.
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