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Stellantis CEO Carlos Tavares resigns from struggling carmaker

Over a year earlier than his expected retirement.

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. A special board committee headed by Stellantis chairman John Elkann will lead the company behind brands like Vauxhall, Jeep, Fiat, Dodge, and Chrysler until a new CEO is appointed “within the first half of 2025.” “Our thanks go to Carlos for his years of dedicated service and the role he has played in the creation of Stellantis, in addition to the previous turnarounds of PSA and Opel, setting us on the path to becoming a global leader in our industry,” Elkann said in the announcement.

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