LISBON (Reuters) – Carlos Tavares, who abruptly resigned as CEO of carmaker Stellantis on Dec 1, said his “amicable” departure was prompted by disagreements with the board over strategy, in an interview published late on Thursday.
He did not go into details about his differences with the French-Italian carmaker’s board, but told Portuguese newspaper Expresso that the decision on his departure was made jointly by him and chairman John Elkann.
Sources familiar with the matter told Reuters that his sudden resignation was prompted by goals set by Tavares that some board members viewed as unrealistic or destructive.
Tavares told the newspaper that the main concern had been to “protect the company so that a difference in views would not risk the company becoming misaligned.”
“A company with 250,000 employees, a turnover of 190 billion euros and 15 brands that it sells around the world is not a company that can be managed without a lack of alignment – which immediately impacts strategic management,” he added to. .
When asked if he felt hurt by the outcome, he replied: “No, not at all.” He said he would do the same if he could go back in time.
The approach of Tavares, previously considered one of the auto industry’s most respected executives, came under scrutiny after falling sales in North America prompted the automaker to issue a profit warning on 2024 results in September.
Dealers, industry experts and customers say Stellantis has priced itself out of the market in both the United States and Europe under Tavares’ leadership.
In the interview – the first since his resignation – Tavares described the current moment in the auto industry as the beginning of a “Darwinian” period.
“When you face a storm, you have to steer the boat according to the waves. You can’t argue about the best way to deal with them.”
(Reporting by David Latona and Patrícia Vicente Rua; Editing by Andrew Heavens)
