Stellantis CEO's staggering $106M payout amid financial woes
The former CEO of Stellantis stirred much controversy due to his perplexing business decisions and his exorbitant salary. After his departure, the company meticulously summarized his earnings. The total is impressive.
When Tavares headed Stellantis, he was considered one of the highest-paid CEOs in the automotive industry. Yet, not everyone is aware of the amounts in question.
The company's annual financial statements reveal shocking data. They indicate that in 2021, when Stellantis was essentially born, Tavares's total compensation was $20,028,089. The following year, the sum was even larger—$24,517,932. However, the record was set in 2023, when Tavares earned $38,127,283. The last year of his term, 2024, concluded with a total of $24,128,070. In total, this amounts to $106,801,375 over four years.
Interestingly, most of this total consists of bonuses and additional benefits, as Tavares's base annual salary was approximately $2,088,456. But that's not all—another $2,088,456 for the early termination of the contract, to be paid immediately in December 2024, along with an additional $10,442,279 scheduled for January 2026 (when Tavares's actual contract concludes) is included in this staggering amount.
This contrasts with the company's poor financial condition, which recorded a 70% decline in net profit and a 17% drop in revenue in 2024.
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