The boss of car making giant Stellantis – which owns brands including Chrysler, Vauxhall, Jeep, Fiat and Peugeot – has stepped down with immediate effect.
Carlos Tavares’ abrupt exit comes two months after Stellantis issued a profit warning.
Last week, the firm also announced plans to close its Vauxhall van making factory in Luton, putting about 1,100 jobs at risk.
In a statement announcing Mr Tavares’ departure, Henri de Castries, Stellantis’ senior independent director said “in recent weeks different views have emerged which have resulted in the Board and the CEO coming to today’s decision.”
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, first at the French group PSA – then, following its merger with Fiat Chrysler in 2021 – at Stellantis.
Mr Tavares frequently made headlines in the UK by casting doubt over the future of Vauxhall operations in the UK, linking it to issues such as Brexit and government plans to force car makers to build more electric cars.
