The former CEO of Stellantis, Carlos Tavares, must receive 12 million euros after leaving his post – Liberation
He does not leave without anything. The old number one in Stellantis, Carlos Tavares, Landed by the group on December 1, must receive 12 million euros after leaving management, said the automaker in its annual report on Thursday, February 27. This is a starting indemnity of 2 million euros accumulated with a bonus of « transformation » of 10 million euros. The Portuguese benefited, for 2024, from a remuneration reaching 23.1 million euros, down 37 % compared to the year 2023 (36.5 million), mainly composed of variable premiums linked to the results of the company, at half mast last year.
In early December, press information in France and Italy had mentioned departure bonuses ranging from 50 to 100 million euros. Stellantis also denied these figures « Overvaluated ». According to the annual report, the parent company of brands Peugeot, Citroën, Fiat or Chrysler, concluded an agreement with Carlos Tavares providing for 2 million euros in departure allowances « As required by Dutch law » Since its seat is located in Amsterdam. The one who was also Deputy Managing Director of Renault must also receive « 10 million euros for a bonus in the achievement of a stage of transformation of the company ».
Concerning The remuneration of the ex-boss For the year 2024, it is made up of a fixed part of 2 million euros to which are added several premiums reaching 20.5 million euros. First of all « 10 million as a premium for a step in the transformation of the company » And « 10,514,494 euros representing the rest of the long -term bonus burden, set in action of the company »specifies the report. For the year 2024, Carlos Tavares also received 500,000 euros in « Retirement services » from Stellantis.
On the other hand, no performance bonus was paid to the manager, The financial objectives have not been achieved. On Wednesday, the Stellantis group presented annual results with net profit in strong decline over the year 2024 to 5.5 billion euros (-70 %) and an operating margin at 5.5 % after an exercise marked by difficulties, especially in North America. The remuneration of the former boss, one of the highest in the automotive industry, has often been controversial in France. Since his arrival at the head of Stellantis, founded in January 2021 following the merger of PSA and Fiat-Chrysler, Carlos Tavares received more than 100 million euros in remuneration.
