Stellantis Head Booted Because of ‘Radical’ Targets at Company, Report Says

Targets deemed unrealistic or destructive by some board members triggered the sudden fall of Stellantis CEO Carlos Tavares just a month after he received their full backing, two people with knowledge of the matter told Reuters.

Unhappy with his aggressive targets for sales and cost cuts, and his contentious dealings with the automaker’s suppliers, dealers and unions, the board unanimously wanted Tavares to go, the sources said.

“Something broke in November,” one of the sources said.

Tavares resigned on Dec. 1, leading to a selloff of shares in the automaker, which owns brands including Jeep, Ram, Fiat, and Peugeot.

Details of the clashes leading to his ouster have not been previously reported. Tavares did not respond to requests for comment.