Shares in Vauxhall owner Stellantis tumble after top boss quits abruptly
The car-making giant announced plans last week to shut its Luton van-making factory next April, putting more than 1,100 jobs at risk.
Shares in Vauxhall owner Stellantis have tumbled following the sudden departure of its boss Carlos Tavares, just days after the carmaker announced plans to close its Luton factory.
Paris-listed shares in the car giant slumped more than 8% in Monday morning trading after the announcement on Sunday that Mr Tavares had quit after nearly four years in the top spot.
His resignation from the world’s fourth-largest carmaker – which also owns brands including Jeep, Fiat, Peugeot and Chrysler – comes two months after a profit warning as the group has continued to struggle with slumping sales.
Last Thursday, the company also announced plans to shut its Luton van-making factory next April, putting more than 1,100 jobs at risk.
