Stellantis’ board on Sunday announced the auto maker’s CEO was departing. The company expects to name a replacement in the first half of 2025.

Key Takeaways Stellantis shares tumbled following the carmaker's announcement that CEO Carlos Taveras resigned, effective immediately.The struggling company expects to name a replacement next year.Stellantis also reiterated its 2024 outlook after warning that U.

Shares in the maker of Chryslers and Jeeps slid after Chief Executive Carlos Tavares resigned. Tavares was previously expected to remain until the end of his contract in 2026. Stellantis U.S.-listed stock fell more than 7% to $12.