MILAN/DETROIT (Reuters) -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 global automaker’s sales in North America declined over the past year because of high-cost models that dealers struggled to sell.

Stellantis (STLA) stock sank on Monday after CEO Carlos Tavares abruptly handed in his resignation as issues pile up at the automaker.