the shareholders validate the CEO’s remuneration with 70% of the votes

A non-binding vote, but closely scrutinized. The shareholders of the automobile manufacturer Stellantis validated with 70.2% of the votes the remuneration of the group’s general director, Carlos Tavares, Tuesday April 16, during the group’s general meeting organized in Amsterdam (Netherlands). This salary could thus reach 36.5 million euros for the year 2023.

This remuneration includes a bonus of 10 million euros linked to the transformation of the group, as well as bonuses awarded only if certain objectives are met by 2025, the last year of his current mandate. Initially, Carlos Tavares will receive 23.5 million euros for the year 2023.

The manager’s remuneration, up 56% compared to 2022, has sparked controversy in France, where the salaries of big bosses remain generally far from these peaks. Last year, Carlos Tavares’ compensation for the year 2022 was validated by 80% of shareholders. The French state owns 6% of Stellantis via Bpifrance, which had indicated at the end of March its intention to abstain on these remuneration issues.