little political reaction to the estimated amount of compensation for Carlos Tavares

Outraged union reactions to Stellantis boss Carlos Tavares’ estimated compensation did not provoke any particular reactions in the election campaign between Marine Le Pen and Emmanuel Macron eleven days before the second round of the presidential election. “It’s shocking, but less shocking than for others (…). Once [Carlos Tavares] has achieved good results. limited himself to commenting on the candidate of the National Rally (RN) on Wednesday April 13 during a trip to Gennevilliers (Hauts-de-Seine) where she visited a construction company in the presence of the press.

Also read: Article reserved for our subscribers Carlos Tavares, CEO of Stellantis: His compensation, estimated at 66 million euros, is shocking

According to Stellantis, the managing director of the fourth largest automobile group in the world, which emerged from the merger of the Peugeot-Citroën-Opel (PSA) and Fiat-Chrysler (FCA) groups in January 2021, is to receive 19 million euros for 2021. In addition to a fixed salary of 2 million euros, the variable part makes up the majority (89%) of his remuneration, with notably 7.5 million linked to his performance in 2021 and a bonus of 1.7 million linked to the creation of Stellantis additional free Share allocations based on 2026 targets valued by Stellantis at €5.6 million for 2021 but much more by a minority shareholder, management company PhiTrust, at a total of €66 million.

“Not Normal Numbers”

“Obviously these aren’t normal numbers,” also considered government spokesman Gabriel Attal during the report of the Council of Ministers. “It’s a private company and it’s ultimately the shareholders who decide and vote,” He stated this in the morning as a supporter of Emmanuel Macron on the set of BFM-TV and RMC – at Stellantis, 52.12 percent of the shareholders spoke out against the remuneration report presented by the group management. This report is only of an advisory nature under Dutch law, where the company is registered.

Mr Attal was quick to clear the issue to underscore candidate Macron’s ambition “better value distribution in the company”, from two perspectives: better redistribution of profits, in certain cases in the form of equity, profit-sharing or tax-free bonuses; and a condition of part of the remuneration of the managers of the “big companies that respect environmental, social and societal goals” – all of which are now included in the concept of corporate social responsibility. Emmanuel Macron had already mentioned this measure during the press conference to present his program on March 17 and described the proposal as“Key Element for Changing Practices and Behaviors” – she has been present in her program ever since.

Also read: Emmanuel Macron berates social and environmental measures to persuade the left

In the report of the Council of Ministers, the government spokesman also linked this question to the necessity, he said. “Coordinate and move forward at European level”. “We wanted to do things better in terms of minimum taxation for large groups and we have reached an agreement; we also need to regulate things better in terms of the executives of big companies, multinationals,” guessed Gabriel Attal before he came back to the question about that “Share Values” in society. “But here I enter an issue that is clearly at the heart of the campaign, did he cut So you will understand that I will stop here. »

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