Until a new CEO is hired, the company will be led by an interim executive committee chaired by John Elkann. Elkann, the great-great-grandson of Fiat founder Giovanni Agnelli, is Stellantis's chairman and the CEO of the automaker's largest shareholder, the Agnelli family investment vehicle Exor NV.

While Stellantis stock has fallen sharply in 2024, that wasn’t what led to Sunday’s announcement that CEO Carlos Tavares had resigned. “Our thanks go to Carlos for his years of dedicated service and the role he has played in the creation of Stellantis,

Shares in the maker of Chryslers and Jeeps slid after Chief Executive Carlos Tavares resigned. Tavares was previously expected to remain until the end of his contract in 2026. Stellantis U.S.-listed stock fell more than 7% to $12.