PARIS (Reuters) – Stellantis shareholders approved by a large majority at their annual general meeting on Thursday the proposed compensation package for 2022 for the management of the automotive group, including chief executive Carlos Tavares.
The 2022 compensation package was validated at 80.4% and the new CEO compensation policy for the coming years was also approved, at 93.45%.
The salary of Carlos Tavares, one of the highest executives in the global automotive sector, rose last year to 23.5 million euros, compared to 19.2 million in 2021, if we includes elements of long-term compensation which may not be paid to him in full.
The shareholders of the automotive group opposed last year by a narrow majority (52%) the package proposed for 2021, the high remuneration of Tavares having raised criticism from political and union leaders, particularly in France, then in full presidential campaign.
This advisory vote did not prevent the payment of these salaries and bonuses to the leaders of the manufacturer resulting from the merger of PSA and Fiat Chrysler.
(Gilles Guillaume report, written by Jean-Stéphane Brosse, edited by Kate Entringer)
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