Stellantis CEO Carlos Tavares resigned from his position after months of pressure from various stakeholders to fix falling sales.

The global automaker’s sales in North America declined over the past year because of high-cost models that dealers struggled to sell.

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.