Tavares resigned from Stellantis due to the sales crisis

The fourth largest car manufacturer in the world announced that its board of directors has accepted the resignation Tavareson Sunday, and is set to leave his position as CEO immediately.

Company indicated Stellantishe indicated that the process of appointing a new permanent CEO is “well underway”.

The company announced that a new interim executive committee will be formed in the meantime, headed by John Elkann, reports the German news agency DPA.

As president of PSA Peugeot, Tavares took over the leadership of the company, which is headquartered in Holland In January 2021 when it merged with Fiat Chrysler Automobiles.

Its North American operations have been the main source of the company’s profits, but it has faced difficulties this year amid major changes in the market.