An amount that amounts to several tens of millions: Carlos Tavares leaves Stellantis with a “significant bonus”

An amount which amounts to several tens of millions of euros. Forced to resign with immediate effect under pressure from the exceptional board of directors which met this Sunday evening, Carlos Tavares negotiated a significant bonus in light of the astronomical remuneration he was already receiving, it was reported learned this Monday, December 2 from Radio France.

Also read:
“With immediate effect”: the Stellantis group announces the resignation of its CEO Carlos Tavares

Highest paid boss in the automotive industry with 36.5 million euros for the year 2023Carlos Tavares did not want to leave empty-handed. He negotiated a significant bonus with the board of directors, who certainly dismissed him, but who agreed to grant him compensation of several tens of millions of euros, praising his ability to have turned around the Stellantis group in recent years. years.

“The Psychopath”

Nicknamed “the psychopath”, Carlos Ghosn's former number 2 was to drive for “at least five years” the company. But these are “differences of views” who got the better of him, a year before retiring. He is accused of too brutal management and excessive pressure on the teams, despite multiple warnings from the board of directors.

Also read:
“We will do everything to avoid cutting jobs,” says the boss of Stellantis, referring to a potential closure of factories in the face of the difficulties facing the company

In addition to his arrogance, it was his genius that was praised and which allowed the PSA Peugeot Citroën group to get its head above water and become one of the most successful global manufacturers, while the firm was on the verge of collapse. abyss. But after encouraging years, Stellantis' financial situation deteriorated to such an extent that last October, the CEO had to announce the closure of several factories in Europe, threatening several hundred of the group's employees.

For the moment, Carlos Tavares' successor is not yet known. He will be appointed during the first half of 2025. In the meantime, John Elkann, heir to the Agnelli family and the group's largest shareholder, takes the reins of a new temporary executive committee.