Carlos Tavares’s immediate demise was due to his ambitious sales and cost-cutting targets, which many board members deemed unrealistic.

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, sources told Reuters. Unhappy with his aggressive targets for sales and cost cuts and his contentious dealings with the giant automaker’s suppliers,

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.