The departure of Carlos Tavares from the automotive giant he helped create follows his inability to move on from previously successful strategies when faced with new, shifting challenges.

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,

The CEO of the automaker Stellantis, which produces well-known vehicles such as Jeep and Chrysler, is resigning effective immediately, the company said Sunday. In a statement, the automaker, which is fourth largest in the world by sales behind Toyota,

Carlos Tavares, the CEO of Stellantis, has resigned effective immediately after a disagreement with the board. Stellantis, which owns major brands like Vauxhall, Fiat, and Jeep had recently issued a profit warning and announced the closure of its Vauxhall van factory in Luton,