High numbers
We know that all CEOs of large companies are usually very well paid. This is, for example, the case of the CEO of TotalEnergies, Patrick Poignant, but not only. Because we’re also thinking about Stellantis group chief Carlos Tavares, who used to head French group PSA before the merger. The Franco-Italian company has been a hit since its inception in 2021, and it shows in the numbers. And sales and financial results that reach new heights. Indeed, Stellantis recently released impressive financial results for 2023. Merger between PSA and FCA paid off in 2021, with global sales up 6% compared to 2022 and operating margins remaining strong at over 12%. Very encouraging results, but that’s not all. Because the boss of the company also has a direct benefit. But how much did he earn last year?
Europe has agreed to end the heat engine by 2035. However, the fuel tax is an important source of revenue for the French state. https://t.co/M17WH4kOC3
— AutoPlus (@AutoPlusMag) July 6, 2022
Incredible salary
After the salary already mentioned in 2022 (14.9 million euros in fixed salary and 23.5 million in total), his remuneration for 2023 will reach 23.5 million euros, with the possibility of rising to €36.5 million at the end. This significant amount includes a bonus of 10 million euros related to the economic transformation of the Stellantis group, as stated in an official report published this week. In addition, long-term benefits such as retirement pensions and bonuses are provided. However, in order for Carlos Tavares to receive this income, it will be necessary to wait for the vote of the shareholders at the general meeting scheduled for April 16. If the award is approved, it would set a new record for a French executive in the automotive sector. The group’s excellent results and the €1.9 billion bonus recently paid to staff certainly help to justify these salary demands.
Read also:
Why is the new Peugeot 408 presented in a giant transparent sphere?
Peugeot: Here are 6 new products that will appear in 2023!
Used: 5 Peugeot 2008 from 8990 euros
Source: Auto Plus
Robert is an experienced journalist who has been covering the automobile industry for over a decade. He has a deep understanding of the latest technologies and trends in the industry and is known for his thorough and in-depth reporting.