The CEO of Stellantis, Carlos Tavares, received a salary of approximately 13.5 million euros in 2023, approximately 1.4 million less than in 2022 (14.9 million euros).
The 2023 remuneration consists of a basic remuneration of 2 million euros, which has remained unchanged for three years, to which must be added a variable remuneration of 90% compared to the performance KPIs assigned to him, which amounts to 11.5 million, approximately 1.4 million euros less than the sum received in 2022. In addition to the basic and variable remuneration, Tavares also received in 2023 an incentive for the transformation of Stellantis into a sustainable technological mobility supplier, amounting to 10 million euros, approved in 2021 by the Stellantis Board in The scope of a plan to achieve significant strategic milestones linked to the Group's innovation over a five-year period.
At the same time, long-term incentives amounting to 13 million euros were awarded to the CEO which will be assigned to Tavares only if specific performance objectives are achieved in the coming years.
Under the leadership of Stellantis CEO Carlos Tavares, Stellantis achieved one of the best performances in the automotive sector, with a margin of 12.8% in 2023, which led to a reallocation of 1.9 billion euros between variable pay, bonuses and profit sharing to all employees, for a total of 6 billion euros since the creation of the company 3 years ago.
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