Carlos Tavares has resigned as the CEO of Stellantis effective immediately, following pressure from the board amid concerns over his management style. His departure includes a substantial compensation package estimated in the tens of millions of euros. Tavares was the highest-paid CEO in the automotive industry, earning €36.5 million in 2023. While he is praised for turning around Stellantis over the past decade, the board cited ‘divergences of views’ and excessive pressure on his teams as factors in his ousting. A successor will be named in early 2025.