The ousted executive also obtains a bonus of $ 10.4 million this year
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- The former CEO of Stellantis, Carlos Tavares, won $ 23.9 million last year.
- He will obtain an additional $ 12.5 million this year in departure compensation and bonuses.
- While Tavares deployed its golden parachute, the net profit from Stellantis dropped 70% in 2024.
Stellantis’ net profit dropped from 70% last year to € 5.5 ($ 5.8 / £ 4.5 dollars thanks in part to a 15% drop in American sales. Almost all brands were in red with RAM falling 100,437 units in a single year.
Although there is no lack of blame to do, a large part can be repressed to the old CEO Carlos Tavares. He suddenly resigned on December 1 after the internal conflicts took place.
Plus: the CEO of Stellantis, Carlos Tavares, suddenly resigns after the tensions of leadership reached the point of rupture
It is not exactly that goes on a high note, but Tavares laughs to the bank thanks to a salary reported of € 23 ($ 23.9 / £ 19). Although it is more than many of us will earn our lives, Reuters reports that the old executive has seen its remuneration drop by 37% compared to 2023.
However, Tavares still wins Bank because a regulatory file has revealed that the former boss will get € 2 ($ 2.1 / £ 1.7) million dismissals as well as a € 10 bonus ($ 10.4 / 8.3) million dollars this year. The latter is the result of the company that has reached several milestones under its watch.
Although Tavares’ mandate does not tenderly remember, he won much more than ordinary Stelllantis employees. They received on average € 66,000 ($ 68,457 / £ 54,462), which was down 6% compared to the previous year. This drop could be linked to efforts to recruit engineers from countries like Brazil, India and Morocco to reduce development costs.
