Stellantis, Macron and Le Pen united in criticism of CEO Tavares’ pay

Stellantis Macron and Le Pen united in criticism of CEO

(Finance) – The French president Emmanuel Macron and its far-right challenger Marine Le Pen they agree in defining “shocking” the fee of the CEO of Stellantis, Carlos Tavares. Despite the clash on countless fronts, the two candidates found themselves in agreement in the criticisms of the number one of the Franco-Italian car manufacturer, also because the salary of the executives became a hot topic in the electoral campaign for the run-off of the French presidential elections. Both Macron and Le Pen are in fact trying to convince the more than 7 million people who supported far-left candidate Jean-Luc Melenchon in the first round.

The 2021 salary package for Carlos Tavares it amounts to around 19 million euros, in addition to a package of shares worth another 32 million euros and a long-term remuneration of around 25 million euros.

In the assembly of 13 April Stellantis shareholders voted against the 2021 remuneration resolution. “The company acknowledges the feedback from the advisory vote on the remuneration report in accordance with Dutch law on shareholders’ meetings, which was in favor of 47.9% and against for 52.1% and will explain in the remuneration report of 2022 how this vote was taken into account, “Stellantis said after the assembly. However, the vote does not affect the remuneration foreseen for last yearbased on the legislation of the Netherlands, where Stellantis is based.

We are talking about astronomical sums here, we should put a limit on these, this could work if we act at the European level, “Macron said today in a radio interview.” People cannot have purchasing power problems, difficulties and anxiety in their lives and see sums as this “, added the outgoing French president, underlining that otherwise “the company will explode”.

“Sure it is shocking – echoed Le Pen in another interview – It is even more shocking when it is a CEO who has put the company in trouble and gets considerable sums, “he told BFM television, suggesting that one way to compensate for that salary is to develop employee shareholdings.

Gabriel Attal, spokesman for the French government, said two days ago that the compensation of the CEO of Stellantis “it’s not normal“And it shows that there is a need for more regulation at the European level.” It is clear that these are not normal figures, “Attal said at a news conference.

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