Sources told CNBC that Carlos Tavares was fixated on near-term costs and profits to the detriment of the business as well as the company's products.

Stellantis, the maker of Jeep, Fiat and Puegeot, announced on Sunday that CEO Carlos Tavares has resigned.

Carlos Tavares is stepping down as Chief Executive Officer of Stellantis, effective immediately, following a sharp decline in the carmaker’s sales. As the Wall Street Journal notes, in July, the company reported that its net profit for the first half of the year had dropped by 48 percent compared to 2023.

Troubled automaker Stellantis has decided that its Ram brand needs its own executive, so the company is bringing back an executive who retired this year when CEO Carlos Tavares was running the company.

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.

Stellantis Chief Executive Carlos Tavares has resigned, the automaker said on Sunday, adding it aimed to find a new head in the first half of 2025.

Unnamed sources at Stellantis are reportedly claiming that former CEO Carlos Tavares was the driving factor behind the decision to remove the Hemi V-8 from passenger cars.

Stellantis insiders are saying that Tavares was the key driver of the Hemi V-8's death in its passenger cars. C arlos Tavares is gone as Stellantis' CEO, and in the aftermath of h