3 months ago
21
The BBC is reporting that boss of car making giant Stellantis, Carlos Tavares, has quit with immediate effect following a boardroom clash.
His abrupt exit from the company – which owns brands including Vauxhall, Jeep, Fiat, Peugeot and Chrysler – comes two months after Stellantis issued a profit warning.
Last week, the firm also announced plans to close its Vauxhall van making factory, putting about 1,100 jobs at risk.
Before his resignation, Mr Tavares was one of the most powerful people in the global motor industry.
Stellantis’ share price has fallen by 40 per cent since the start of this year, a far worse performance than its rivals.
Stellantis says it expects to appoint a new chief executive by the middle of next year.
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