Stellantis: Tavares’ 2022 compensation down

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(Reuters) – Stellantis chief executive Carlos Tavares’ pay fell 14% in 2022 to 14.9 million euros, from 17.4 million euros in 2021, a report said. the group announced on Friday.

Carlos Tavares has not been awarded an exceptional bonus in 2022.

The group, born in January 2021 from the merger between PSA and FCA, reported on Wednesday a 17% increase in its operating profit for the second half of 2022, better than expected, thanks to the savings made after the merger between PSA and FCA and price increases, which helped offset ongoing supply chain issues.

The amount of Carlos Tavares’ salary sparked a controversy in the French political class and in certain unions last year.

(Report Kanjyik Ghosh and Rhea Binoy; French version Camille Raynaud)

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