The boss of carmaker Stellantis – which owns brands including Chrysler, Vauxhall, Jeep, Fiat and Peugeot – has resigned with immediate effect.
The sudden dismissal of Carlos Tavares comes two months after Stelantis issued a profit warning.
Last week, the company also announced plans to close its Vauxhall van factory in Lutonwhich puts about 1,100 jobs at risk.
In a statement announcing the departure of Mr. TavaresHenri de Castries, chief independent director of Stellantis said “over the last few weeks different opinions have emerged which led the board and the chief executive to reach today's decision.”
Before his resignation, Mr. Tavares was one of the most powerful people in the global automotive industry.
He had a reputation as a ruthless cost-cutter, both at French group PSA and, following its merger with Fiat Chrysler in 2021, at Stellantis.
“He was known for being able to turn around companies that were in trouble,” Hans Greimel, Asia editor at Automotive News, told the BBC.
“Critics would say that he was simply cutting costs too much and delaying products and damaging quality,” he added.
Mr Tavares has often made headlines in the UK for casting doubt on the future of Vauxhall's UK operations, linking it to issues such as Brexit and government plans to force carmakers to build more electric cars.
It is not clear whether his departure will affect the planned closure of the Stellantis plant in Luton.
Recently Mr Tavares' position has been damaged by a dramatic decline in sales and profits at the company.
Stellantis' share price is down 40% since the start of this year.
In September, the company said it had begun a search for a replacement for Mr Tavares, but he is expected to remain in his role until at least 2026.
Stellantis said that it is now expected to appoint a chief executive in the middle of next year.
Meanwhile, it said it will establish a temporary executive committee led by the company's chairman, John Elkann.
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