Automobile: the remuneration of Tavares, boss of Stellantis, could reach 23.5 million
The CEO of Stellantis, Carlos Tavares, March 31, 2022. REUTERS - MASSIMO PINCA
Text by: RFI Follow
The remuneration of Carlos Tavares, the boss of Stellantis, resulting from the merger of Peugeot-Citroën and Fiat Chrysler, will increase further.
Thanks to the excellent results of the automotive group, its remuneration for 2022 could reach 23.5 million euros, the company indicates in its annual financial report.
An excessive amount which arouses the indignation of the unions and the employees of the group.
The boss of Stellantis will receive remuneration which could amount to 23.5 million for 2022 against 19 million euros in 2021. This miraculous remuneration is based on the exceptional results of the company which displays a record net profit close to of 17 billion euros for last year.
The automobile group is coming out of an exceptional
record net profit of 16.8 billion euros
Despite declining sales volumes, the manufacturer was able to defend its margins by raising its prices.
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In detail, Carlos Tavares received last year 14.9 million euros in salary, bonus and pension, including 7.5 million due to his good results.
Furthermore, by 2026 it could receive shares whose amount would correspond to the achievement of its various objectives.
All these parameters could bring his total compensation for last year to 23.5 million euros, which corresponds to 64,000 euros per day, or the average annual salary of an employee of the group.
This remuneration is “
aligned with that of its peers
” European and American, argued a spokesperson for Stellantis.
Socially unjustified, the compensation of the boss, as talented as he is, shocks all employees and unions, especially since his announcement comes at a time when some of them consider the bonus of two billion euros distributed insufficient. to the group's 264,000 employees worldwide.
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Employment and Labor