The managing director of the world’s fourth largest car manufacturer is supposed to receive 66 million euros in compensation in 2021. The President of the Republic reacted on Friday on franceinfo.
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“It’s shocking, it’s excessive”, reacted Emmanuel Macron on Friday April 15 on franceinfo, about the income of Carlos Tavares, executive director of Stellantis. According to the Proxinvest firm, which publishes an annual ranking of company executive compensation, the managing director of the world’s fourth-largest car manufacturer is “highest paid in history”. “On average, in the CAC40, we are around 4 or 5 millions of euros. There, we are talking about 66 million euros, it is 13 times more, which is absolutely colossal”explained Loïc Dessaint, head of governance issues at Proxinvest, on Thursday on franceinfo.
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Some of the shareholders voted against the vote for a compensation of 66 million euros granted to Carlos Tavares for the year 2021. The Stellantis group resulting from the merger between PSA and Fiat Chrysler justifies it in view of the good results of the company in 2021.
Salary of the boss of Stellantis ➡️ “It’s shocking, it’s excessive”, says E. Macron, for whom the solution is European. “We have to set ourselves ceilings” for high salaries in Europe, according to him. “When we pay to shareholders, we must pay to employees,” he says. pic.twitter.com/xNQ2Bb1u7O
— franceinfo (@franceinfo) April 15, 2022