Stellantis, one in three partners against the compensation in Tavares: how it went to the assembly

The shareholders’ meeting confirmed Carlos Tavares’ ledge, Despite the opposition of many great investors. The Assizes approved with 66.9% of the votes the report on remuneration which includes the 35 million paid to the former CEOin part, as compensation for 2024 and, in part, as a liquidation for the early exit compared to the expiry of 2027

The opposites

Among the opposites, the German manager Allianz Global Investors and the Norwegian sovereign fund Norges include, but their « no » was not enough to overcome the « yes » of the great members of Stellantis – Exor, Peugeot Invest and Bpifrance – which, as a whole, control about 47% of the total votes. The same outcome gave the referendum for the modification of the remuneration policy of the next CEO which has not yet been identified. Its long -term bonus may vary from eight times and 10 times the basic salary which, in the case of Tavares, amounted to 2 million. Stellantis justified the increase with the need to attract the best manager.