Carlos Tavares' abrupt exit comes two months after Stellantis issued a profit warning. Last week, the firm also announced plans to close its Vauxhall van making factory in Luton,

Stellantis's stock, tumbled 6.3% to its lowest level in more than two years after boss Carlos Tavares (pictured), dramatically resigned on Sunday.

Stellantis Chief Executive Carlos Tavares resigned abruptly on Sunday, two months after a profit warning at the maker of Jeep, Fiat and Peugeot cars that has lost around 40% of its value this year. The company said it would seek to find a replacement CEO in the first half of 2025.