The salary of Carlos Tavares, boss of the Stellantis automotive group, goes badly

Carlos Tavares is the managing director of the automobile group Stellantis, that is to say Peugeot-Citroën-Fiat.

© Reuters/Vincent Kessler

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The salary of Carlos Tavares, the general manager of the Stellantis automotive group (Peugeot-Citroën-Fiat), is criticized from all sides.

From shareholders, to unions, to the public investment bank, BPI-France, and even to the Minister of the Economy.

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Carlos Tavares, should receive an envelope of 19 million euros for 2021. It consists of a fixed salary of 2 million euros and a variable part linked to the performance of the group, as well as a bonus and benefits. shares which represent 90% of his remuneration.

Abnormal figures, even shocking for its detractors.

The Minister of the Economy Bruno Le Maire judges " 

this excessive remuneration and raises the question of the remuneration of major business leaders

 ", two weeks before the second round of the presidential election.

Some shareholders voted against this compensation, in particular BPI-France and PhiTrust, which estimates it at 66 million euros for 2021, in the best case scenario.

This amount is false, protests Stellantis.

Certainly, 2021 has been a prosperous year for the group.

Despite the pandemic and the shortage of electronic chips, it tripled its net profit to more than 13 billion euros.

But the group is in overproduction, underlines the shareholder, and will have to restructure massively and cut jobs.

This employer's salary has " 

difficult to pass with employees who are asked every day for competitiveness efforts 

", protests the CFDT.

For comparison, Luca de Meo, boss of Renault, a much smaller group, should be paid 4.7 million euros for the year 2021.

► To read also

: Automotive: the Stellantis group posts record results for the year 2021

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