What's Going On With Stellantis Stock Monday?

Stellantis N.V. STLA stock is trading lower on Monday. The company announced that its CEO, Carlos Tavares, has resigned.

What To Know: The company has established a new Interim Executive Committee, chaired by John Elkann, who is also the Chairman of the Board, to temporarily oversee leadership responsibilities until a permanent CEO is appointed.

“Our thanks go to Carlos for his years of dedicated service and the role he has played in the creation of Stellantis, in addition to the previous turnarounds of PSA and Opel, setting us on the path to becoming a global leader in our industry,” said Elkann.

“I look forward to working with our new Interim Executive Committee, supported by all our Stellantis colleagues, as we complete the process of appointing our new CEO. Together we will ensure the continued deployment of the Company’s strategy in the long-term interests of Stellantis and all of its stakeholders.”

Stellantis expects to appoint a new permanent CEO during the first half of 2025. The search process is already underway and will be overseen by a Special Committee of the Board.

The company confirmed its guidance from the end of October for the 2024 fiscal year.

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STLA Price Action: At the time of publication, Stellantis stock is trading 7.12% lower at $12.26, according to data from Benzinga Pro.

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