Chrysler-parent Stellantis said Chief Executive Carlos Tavares is stepping down, effective immediately, more than a year earlier than the global automaker previously said he would retire.Stellantis’s board of directors on Sunday accepted the resignation of Tavares as CEO,

MILAN/DETROIT (Reuters) -Stellantis Chief Executive Carlos Tavares resigned abruptly on Sunday, two months after a profit warning at the maker of Jeep, Fiat and Peugeot cars that has lost around 40% of its value this year.

Carlos Tavares has resigned as CEO of Stellantis. Filling the void in his absence is an interim executive committee chaired by John Elkann, according to Stellantis. The company says it will appoint a new chief executive in the first half of 2025.