Few political reactions to the estimated amount of compensation for Carlos Tavares

The union reactions of indignation at the estimate of the salary of the leader of Stellantis, Carlos Tavares, did not unleash particular reactions in the electoral campaign between Marine Le Pen and Emmanuel Macron, eleven days before the second round of the presidential elections. “It’s shocking, but less shocking than for other (…). For once [Carlos Tavares] has obtained good results. he limited himself to commenting on the candidate for the National Rally (RN), on Wednesday, April 13, during a trip to Gennevilliers (Hauts-de-Seine), where he visited a construction company in the presence of the press.

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The CEO of the fourth largest automotive group in the world, born from the merger in January 2021 of the Peugeot-Citroën-Opel (PSA) and Fiat-Chrysler (FCA) groups, should receive 19 million euros for the year 2021, according to Stellantis. Together with a fixed salary of €2 million, the variable part makes up the majority (89%) of his remuneration, with €7.5 million linked in particular to his performance in 2021, a bonus of €1.7 million linked to creation of Stellantis, to which they are adding goal-based free share allocations for 2026, valued at €5.6 million by Stellantis for the year 2021, but much more by a minority shareholder, the management company PhiTrust, by a total of 66 million euros.

“Unusual numbers”

“Obviously these are not normal numbers,” The government spokesman, Gabriel Attal, also considered during the report of the Council of Ministers. “It is a private company and, ultimately, it is the shareholders who decide and vote.” – pointed out this morning, as a supporter of Emmanuel Macron, on the set of BFM-TV and RMC – in the case of Stellantis, 52.12% of the shareholders expressed themselves against the report on remuneration presented by the group’s management, but this opinion is only advisory according to the law of the Netherlands, where the company is registered.

Mr. Attal quickly evacuated the issue to highlight candidate Macron’s ambition for a “better distribution of value in the company”, from a double point of view: a better redistribution of profits, in the form of shares, distribution of profits or tax-exempt bonuses in certain cases; and a conditioning of a part of the remuneration of the directors of the “large companies that respect environmental, social and social objectives” – all of them now included in the concept of corporate social responsibility. Emmanuel Macron had already mentioned this measure during the press conference to present his program on March 17, describing the proposal as“key element to change practices and behaviors” – she has been since present in your program.

Also read: Emmanuel Macron outlines social and ecological measures to convince the left

During the report of the Council of Ministers, the government spokesman also linked this issue to that of the need, according to him, “to coordinate and advance at European level”. “We wanted to better regulate things in terms of minimum taxes for large groups and we reached an agreement; We also need to regulate things better with respect to the leaders of the big companies, the multinationals,” estimated Gabriel Attal, before returning to the question of the “shared value” in the company. “But here, I am getting into an issue that is eminently at the heart of the campaign, short, so you understand that I will stop there. »

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