The company's board moved quickly after Tavares' departure and was unveiling the committee to key stakeholders by Monday morning.

Stellantis' indicated Carlos Tavares' views had become misaligned with those held by the company's board and shareholders

Carlos Tavares is stepping down as Chief Executive Officer of Stellantis, effective immediately, following a sharp decline in the carmaker’s sales. 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.