- Carlos Tavares, who led Stellantis since its formation in 2021, quit the company this week
- According to sources, Tavares was too heavily focused on cost-cutting and making the company green
- This focus reportedly led to the Hemi V-8s and popular models being dropped without their replacements being ready
With Stellantis’ global sales down 17% in the first nine months of the year, its share price dropping more than double that figure over the same period, and no quick turnaround in sight, it wasn’t a huge surprise when the company’s CEO, Carlos Tavares, quit earlier this month.
Stellantis announced on Dec. 1 that Tavares had resigned due to “different views” with the board. This statement came just two months after Stellantis indicated that Tavares would remain CEO until 2026, when his current contract was set to expire.
Citing various anonymous sources, CNBC detailed some of the tensions at Stellantis that led to Tavares’ departure.
According to the sources, Tavares …