The boss of Stellantis, Carlos Tavares, abruptly stepped down following a profit warning and plans to close a Vauxhall factory, putting 1,100 jobs at risk. Tavares, known for his cost-cutting approach, faced criticism for delaying products and impacting quality. Stellantis is now searching for a new CEO amid a 40% drop in share price, with an interim executive committee led by chairperson John Elkann in place until a successor is appointed next year.
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