Will it suffer from inflation? Unsure. The remuneration of the chief executive of Stellantis, Carlos Tavares, could ultimately reach 23.5 million euros for the year 2022, said the company Saturday. An announcement that comes as some unions of the automotive group have deemed insufficient the 2 billion euros of bonuses distributed to the 264,000 employees it has around the world.

In detail, Carlos Tavares received last year 14.9 million euros for salaries, bonuses and pension, including 7.5 million related to his performance. Most of its revenues (91%) are variable, subject to its performance, says Stellantis in its annual financial report.

The game of actions

In addition to these 14.9 million euros, Tavares could receive by 2026 actions whose amount is fixed according to the achievement of its financial, commercial or technological objectives. His total compensation could reach $23.5 million for last year. It is "aligned with that of its peers" in Europe and the United States, a Stellantis spokesman said.

And for 2021? The remuneration of the Portuguese boss could amount to 19 million euros, according to these same calculations including long-term bonuses paid over several years.

51 million for a merger

The automotive group, resulting from the merger in 2021 of Peugeot-Citroën and Fiat-Chrysler, is coming off an exceptional second year with a record net profit of 16.8 billion euros. Despite declining sales volumes, the manufacturer was able to defend its margins by increasing its prices.



The president of Stellantis, the Italian-American John Elkann, was to receive 5.8 million euros for 2022, according to the annual financial report. As for the American Richard Manley, former CEO of Fiat-Chrysler, he received 51.2 million euros in March 2022 for his contribution to the merger.

'Shocking and excessive'

Appearing last year at the top of the remuneration of the bosses of the CAC 40, Carlos Tavares had attracted the wrath of his shareholders but also of Emmanuel Macron, who had judged in April "shocking and excessive" the "astronomical" amount of his remuneration.

On Thursday, by publishing these exceptional results, Stellantis announced, as has been said, the payment of 4.2 billion euros in dividends to its shareholders. In France, employees will benefit from a bonus of at least 4,300 euros gross - 3,882 euros net - 300 euros more than the bonus of 2022.

  • Economy
  • Carlos Tavares
  • Car
  • Remuneration
  • CAC 40