few political reactions to the estimated amount of Carlos Tavares’ compensation


The indignant union reactions to the estimated remuneration of the leader of Stellantis, Carlos Tavares, did not trigger any particular reactions in the electoral 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 (…). For once [Carlos Tavares] has achieved good results. limited itself to commenting on the candidate of the National Rally (RN), Wednesday April 13, during a trip to Gennevilliers (Hauts-de-Seine), where she visited a construction company in the presence of the press .

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The managing director of the world’s fourth largest automotive group, born from the merger in January 2021 of the Peugeot-Citroën-Opel (PSA) and Fiat-Chrysler (FCA) groups, should receive 19 million euros for the year 2021 , according to Stellantis. Alongside a fixed salary of 2 million euros, the variable part constitutes the majority (89%) of his compensation, with in particular 7.5 million linked to his performance in 2021, a bonus of 1.7 million linked to the creation of Stellantis, to which are added free share allocations based on 2026 objectives, valued at 5.6 million euros by Stellantis for the year 2021, but at much more by a minority shareholder, the management company PhiTrust, for a total of 66 million euros.

“Not normal numbers”

“Obviously these are not 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 who vote,” he noted earlier in the morning, as a supporter of Emmanuel Macron, on the set of BFM-TV and RMC – in the case of Stellantis, 52.12% of shareholders expressed themselves against the report on remuneration presented by the management of the group, but this opinion is only advisory according to the law of the Netherlands, where the company is registered.

Mr. Attal quickly evacuated the subject to highlight the ambition of the candidate Macron of a “better sharing of value in the company”, from two angles: better redistribution of profits, in the form of participation, profit-sharing or tax-exempt bonuses in certain cases; and a conditioning of a part of the remuneration of the managers of the “large companies respecting environmental, social and societal objectives” – all of which are now included in the concept of corporate social responsibility. Emmanuel Macron had already mentioned this measure during the press conference presenting his program on March 17, describing the proposal as“key element for changing practices and behaviors” – she has since been present in her program.

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During the report of the Council of Ministers, the government spokesman also linked this question to that of the need, according to him, “to coordinate and move forward at European level”. “We wanted to better regulate things in terms of minimum taxation for large groups and we got an agreement; we also need to better regulate things with regard to the leaders of large companies, multinationals”, estimated Gabriel Attal, before returning to the question of the “value sharing” in company. “But here, I am entering a subject which is eminently at the heart of the campaign, did he cut, so you will understand that I will stop there. »

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