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Shareholders of
The approval brings back a familiar debate in
In the news:
- The compensation, which is largely performance-based, could reach
36.5 million euros for 2023, which is 56 percent more than the23.5 million euros for 2022. -
The sharp increase is mainly due to a
10 million euro bonus linked to the transformation process following the 2021 merger of PSA (Peugeot-Citroën) andFiat-Chrysler intoStellantis . - The amount is not quite final yet, as it includes pension bonuses that will only be awarded if the targets set for 2025 are reached.
The issue: In
- The CGT union calls it "a shocking amount, virtually equivalent to
100,000 euros a day" and points out that ordinary staff have only received a 3.7 percent pay increase, compared to the 56 percent for the big boss. -
The vote of the general meeting shows that a significant portion of shareholders, nearly 30 percent, also questioned it. Among others, the well-known consulting firms
Institutional Shareholder Services and Glass Lewis have their reservations.
Contract
What he himself says: On the margins of a factory visit, Tavares pointed out the "contractual dimension" between the company and himself, "just like a soccer player or a
- His main point is that his compensation is 90 percent performance-related. So his pay reflects
Stellantis' strong performance against the competition. - But he says he is also aware of the "social dimension" and made a remarkable promise: "If you think this is not acceptable, make a law and I will respect it."
Wage tension
The reaction: Then the chairman of the (relatively small) Socialist group in the French Parliament,
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