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

Stellantis chief executive Carlos Tavares resigned "with immediate effect" on Sunday, the maker of Jeep and Ram vehicles announced. The big picture: The Italian-U.S. auto maker had faced a sales slump and Stellantis' senior independent director Henri de Castries said in a statement that "in recent weeks different views have emerged which have resulted in the Board and the CEO coming to today's decision.

Stellantis NV Chief Executive Officer Carlos Tavares is stepping down after profit slumped and US sales weakened at the maker of Jeep SUVs and Fiat cars, according to people familiar with the situation.

Stellantis CEO Carlos Tavares resigns as the Jeep and Ram maker continues to struggle with waning sales

Carlos Tavares, who had been under fire and was expected to leave at the end of his contract, resigned abruptly on Sunday.

Stellantis CEO Carlos Tavares is out at the company, effective immediately and a year earlier than his planned exit, the automaker announced Sunday.