Carlos Tavares all of a sudden deserted the Stellantis ship in December, despite the fact that his five-year contract wasn’t set to run out till early 2026. The primary and solely CEO of Stellantis had held the place since 2021, when Fiat Chrysler Vehicles (FCA) and Peugeot Citroën (PSA Group) formally tied the knot, finalizing their mega-merger. In case you are questioning how a lot cash he earned throughout these 4 years, we now have the juicy numbers.
The annual report filings revealed by Stellantis from 2021 via 2024 reveal that Tavares took house huge paychecks yearly. In 2021, his whole remuneration amounted to €19,153,507. The next 12 months, his annual pay jumped to €23,459,006. His most profitable 12 months on the helm of the automotive conglomerate was 2023, when he earned a whopping €36,494,025. Final 12 months wasn’t horrible both, with the official paperwork displaying the princely sum of €23,085,718.
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Stellantis
Throughout his 4 years as Stellantis CEO, Tavares earned exactly €102,192,256, or about $106,200,000 at present change charges. Nevertheless, because the adjoining regulatory filings present, his annual base wage was “solely” €1,986,290 in 2021 and €2,000,000 within the subsequent three years. The huge distinction stems from short- and long-term incentives, a post-retirement profit expense, and fringe advantages.
However wait, there’s extra. The 2024 submitting additionally particulars a Separation and Launch Settlement, which requires a €2 million fee this 12 months. Tavares may also obtain one other €10 million this 12 months after assembly a “second milestone.” In January 2026, the previous CEO will get 800,000 shares within the firm, however these have already been included within the compensation for 2024.
Final 12 months was notably dangerous for Stellantis. The corporate suffered a 70% lower in internet revenue and a 17% lower in internet income. Gross sales fell by 12% because of “momentary gaps in product providing.”
2025 is off to a tough begin for the corporate within the 27 European Union international locations, plus Iceland, Liechtenstein, Norway, Switzerland, and the UK. Numbers revealed by the European Car Producers’ Affiliation (ACEA) present Stellantis fell by 16% in comparison with January 2024. Aside from Alfa Romeo, all the opposite manufacturers have been down.
The seek for a brand new CEO continues, and Stellantis will announce Tavares’ successor within the first half of the 12 months.
