Stellantis' general shareholders' meeting paved the way for Carlos Tavares to be the highest-paid CEO among global automakers. Last year, the Portuguese businessman earned 36.5 million euros, which when converted into Polish currency amounts to 158 million Polish zlotys. If that wasn't enough, Tavares' bonus also included a €10 million incentive award for achieving the company's electrification and software development goals.
Stellantis' manager's ridiculous profits have sparked controversy among employees and union activists. It is no secret that the company has been recording record profits for some time, and this is due to, among other things: people working in lower positions. However, at the same time, the company has been making labor cuts that are difficult to understand for some time.
Just last week, thousands of people joined striking workers near Stellantis in Turin. According to the union, the company plans to reduce its workforce in Italy by 8 percent, or approximately 3,700 jobs. Less than a few months ago, the company also closed its engine plant in Bielsko-Biawa, and large layoffs were planned at the US plants Detroit Assembly Complex-Mack and Jeep Toledo in Ohio.
Meanwhile, in 2023 alone, Tavares' profits rose by almost half. Shareholders appreciated the strategic steps taken by the CEO, which increased the stock price by approximately 60 percent. At the same time, as the company's management emphasizes, the layoffs were necessary due to continuous restructuring and cost optimization, which facilitates the entry into the electric vehicle revolution. The company's management also confirmed that employees affected by the layoffs received a comprehensive aid and support package during the transitional period.
However, as noted by representatives of trade unions – on the one hand, the company is looking for savings and reducing employment, and on the other hand, it gives the manager an astronomical salary. 36 million euros per year, which is approximately 3 million euros per month. Currently, it is difficult to find another CEO in the world who can boast of such income. Therefore, unions announce more protests and support for dismissed employees en masse.
Stellantis is an international company created as a result of the merger of Fiat Chrysler Automobiles with PSA. The concern includes, among others, the following: Trademarks. Fiat, Alfa Romeo, Lancia, Abarth, Maserati, Opel, Peugeot, Citroen, DS, Jeep, Chrysler and Dodge.
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