The chief executive officer of car-maker giant Stellantis has abruptly resigned, the company said Sunday, as it has suffered a precipitous drop in share value this year.

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 stepping down after nearly four years in the top spot of the automaker, which owns car brands like Jeep, Citroën and Ram, amid an ongoing struggle with slumping sales.

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.

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

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