Stellantis Investors Angry Over Ex-CEO’s €23.1 Million Payout

The Stellantis shareholders' meeting (66%) approves the 35 million to the former CEO. And Jaki blames the crisis on electricity, the Portuguese's fixed nail. A deep fracture opens up at the heart of Stellantis's governance. At the shareholders' meeting in Amsterdam, the approval of the severance payment of almost 35 million...

Disappointing 2024 for Stellantis, CEO by mid-2025-Elkann

2024 was disappointing for Stellantis, President John Elkann told the annual shareholders meeting in Amsterdam Tuesday adding that a new CEO to replace Carlos Tavares who quit in December will be named by the middle of this year. (ANSA)

Stellantis Investors Angry Over Ex-CEO’s €23.1 Million Payout

Stellantis NV investors are pushing back against the automaker’s remuneration practices that awarded former Chief Executive Officer Carlos Tavares €23.1 million ($26.2 million) for a year of declining sales and earnings.

The amount includes €23 million in remuneration for the year 2024, €2 million in severance pay and almost 10 million in target premiums.

Some Investors Outraged Over $26M Payday To CEO Who Crashed Stellantis

Former Stellantis boss Carlos Tavares has been awarded €23.1 million ($26.3M) in pay. 67% of investors voted in favor; others called it an “unacceptable” reward for failure. Tavares was forced to leave in December 2024, a year in which profits dropped 70%. The size of automaker CEO pay packets seems absurd to most of us at the best of times. But when those awards relate to a year in which the company in question took an absolute beating both in …

Carlos Tavares does not leave anyone indifferent, although he resigned as CEO of Stellantis last December. The reason? Shareholders of the fourth world manufacturer have approved a compensation for Portuguese of 23.1 million euros. But some have criticized this amount when, in 2024, the Stellantis Group lost up to 70% of profits and two of its brands are on the verge of bankruptcy. Maserati has much of its global business in the United States. A…