Stellantis' Chairman John Elkann plans to name Luca Maestri, the outgoing CFO of Apple, as the new CEO of the Italian-French carmaker after Sunday's shock resignation of Carlos Tavares, newspaper Corriere della Sera reported.

Netherlands car firm Stellantis may be best known for buying Jeep, Dodge, Ram, and Chrysler, but it says it is definitely not buying ex-Apple CFO Luca Maestri.

Carlos Tavares is stepping down as Chief Executive Officer of Stellantis, effective immediately, following a sharp decline in the carmaker’s sales. As the Wall Street Journal notes, in July, the company reported that its net profit for the first half of the year had dropped by 48 percent compared to 2023.

Stellantis has been under major scrutiny over the past year due to its extremely poor sales performances, with many of its brands, including its most popular ones, suffering from ailing sales. They were so bad,

Carlos Tavares has resigned as CEO of Stellantis. Filling the void in his absence is an interim executive committee chaired by John Elkann, according to Stellantis. The company says it will appoint a new chief executive in the first half of 2025.

Stellantis NV appointed executives including North America boss Antonio Filosa to a committee taking over from ousted CEO Carlos Tavares, as the automaker works to fill a leadership void.