PARIS – A French authorities spokesman mentioned that the monetary compensation for Stellantis CEO Carlos Tavares was not “regular” and confirmed there was a necessity for extra regulation on the European degree.
Tavares, who oversaw the merger between PSA Group, the place he was CEO, and Fiat Chrysler Cars that created Stellantis in January 2021, is about to be paid about 19 million euros ($20.5 million) for 2021.
He’s additionally eligible for a inventory package deal price a further 32 million euros and long-term compensation of about 25 million euros, in accordance with Phitrust, an investor.
“Clearly, these are usually not regular figures,” mentioned the federal government spokesman, Gabriel Attal, at a information convention on Tuesday. The French authorities holds a 6.2 % stake in Stellantis by the bpifrance funding financial institution.
Stellantis shareholders are set to vote on Tavares’ compensation package deal Wednesday afternoon on the group’s first annual basic assembly. Stellantis is integrated in Amsterdam, and the assembly shall be held by videoconference.
Phitrust mentioned in a information launch that it had voted in opposition to approving Tavares’ pay package deal.