Transportation
Stellantis Reels After CEO’s Early Departure Leaves Void
- Chairman Elkann heads committee that takes over from Tavares
- Carmaker is under pressure to boost sales, tackle overcapacity
Carlos Tavares
Photographer: Oliver Bunic/BloombergThis article is for subscribers only.
Stellantis NV Chief Executive Officer Carlos Tavares’s surprise departure leaves the maker of Jeep SUVs and Peugeot cars without clear leadership at a time of significant upheaval in the industry.
The shares fell as much as 8.9% in Milan on Monday, and are down 46% this year, after the company said late Sunday that Chairman John Elkann will head an interim committee that’s taking over from Tavares until a new CEO is found.