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The boss of carmaker Stellenbosch – which owns brands including Chrysler, Vauxhall, Jeep, Fiat and Peugeot – has resigned with immediate effect.
Carlos Tavares’ sudden exit comes two months after Stellantis issued a profit warning.
Last week, the firm also announced Vauxhall plans to close its van factory in Luton.About 1,100 jobs are at risk.
Mr. Tavares’ departure was announced in a statementHenri de Castries, senior independent director of Stellantis, said: “Different views have emerged in recent weeks leading to today’s decision by the board and the CEO.”
Before his resignation, Mr. Tavares was one of the most powerful people in the global motor industry.
He had a reputation as a ruthless cost-cutter, both at French group PSA and then, after its 2021 merger with Fiat Chrysler into Stellantis.
“He was known for being able to turn around troubled companies,” Hans Grimmel, Asia editor of Automotive News, told the BBC.
“Critics will say he’s just cutting too much cost and delaying products and also hurting quality,” he added.
Mr Tavares has often hit the headlines for casting doubt on the future of Vauxhall operations in the UK, linking it to Brexit and government plans to force carmakers to build more electric cars.
It is not yet clear whether his departure will affect the planned closure of Stellentis’ Luton plant.
Mr. Tavares’ position was recently weakened by a dramatic decline in sales and profits at the company.
Since the beginning of this year, Stellantis’ share price has fallen 40 percent.
In September, the company said it had begun a search for Mr Tavares’ successor, but expected him to remain in the role until at least 2026.
Stellantis said it now expects to appoint a new chief executive by the middle of next year.
In the meantime, it said it would establish a new interim executive committee, led by the firm’s chairperson John Elkin.
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