Stellantis's CEO made $20.6M last year

[John VonJeep]

So Stellantis CEO Carlos Taveres made $20.6 million last year.

The French are clutching their pearls over this news.

Doesn't seem like a big deal to me as long as he's doing a good job. Heck, GM's CEO Mary Barra made $23.7M in 2020. NFL quarterbacks and certain NBA players make more than this. So do some movie stars.

https://www.autoblog.com/2022/04/18/macron-le-pen-shocking-stellantis-ceo-pay/

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis.​

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Stellantis CEO Carlos Tavares’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern.​

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Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles.​

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Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay.​

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“It’s shocking, it’s excessive,” he said Friday on broadcaster France-Info.​

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“People can’t have problems with purchasing power, difficulties, the anguish they’re living with, and see these sums. Otherwise, society will explode.”​

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Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders.​

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“Of course it’s shocking, and it’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television.​

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[mwilk012]

The French have always been a bunch of dirty commies.

 

[AFD]

So Stellantis CEO Carlos Taveres made $20.6 million last year.

The French are clutching their pearls over this news.

Doesn't seem like a big deal to me as long as he's doing a good job. Heck, GM's CEO Mary Barra made $23.7M in 2020. NFL quarterbacks and certain NBA players make more than this. So do some movie stars.

I have a really hard time believing that anyone's work is worth that much a year, but I guess if they're responsible for making their company, franchise or studio a much larger percentage of wealth, then it seems fair and is likely justified. On the other hand, corporations that are in or on the verge of bankruptcy (or producing failed movies, losing teams) and are still paying their lead talent exorbitant wages, then fuck that.

Looks like Stellantis had a net profit of $15B USD in 2021, so $24M (~0.2%) for the CEO seems very reasonable in comparison (if he was in any way responsible for that happening, which he likely was to whatever extent).

Think I'd be more concerned with Stellantis' decision to hike their prices at the beginning of this year (end of last year?) if they're still pulling in such healthy revenue and generating very respectable profits. And I'm not saying they shouldn't be making adjustments due to inflation or supply/production issues, just that I'm doubtful they'd ever drop their prices back down as quickly (if at all) if the market eventually corrected itself. Hopefully they're busy reinvesting that money toward improving their products (and you know damn well it's mostly going toward re-gearing their future production for electrification, but that's an entirely different conversation).

I'm sure it's all a complex balancing act for keeping the investors sufficiently rewarded for their risk, the workers adequately compensated for their time and effort, and the customers happy with the end product and value for the price paid.

 

[Smoke ‘Em]

So Stellantis CEO Carlos Taveres made $20.6 million last year.

Good for him!

If I can’t write checks out of the account, I really don’t give a damn who has what in it.

 

[Deleted member 59498]

Good for him. Hope I get my 3.76% raise next month also. I think I am worth much more but the market says I am worth that so I will take it can not complain about the guy down the road getting a big old fat bonus for a job well done.

 

[The Last Cowboy]

Good work if you can get it. Maybe I should try my hand at running a car company. I'll check the classifieds tomorrow.

 

[Deleted member 59498]

I have a really hard time believing that anyone's work is worth that much a year, but I guess if they're responsible for making their company, franchise or studio a much larger percentage of wealth, then it seems fair and is likely justified. On the other hand, corporations that are in or on the verge of bankruptcy (or producing failed movies, losing teams) and are still paying their lead talent exorbitant wages, then fuck that.

Looks like Stellantis had a net profit of $15B USD in 2021, so $24M (~0.2%) for the CEO seems very reasonable in comparison (if he was in any way responsible for that happening, which he likely was to whatever extent).

Think I'd be more concerned with Stellantis' decision to hike their prices at the beginning of this year (end of last year?) if they're still pulling in such healthy revenue and generating very respectable profits. And I'm not saying they shouldn't be making adjustments due to inflation or supply/production issues, just that I'm doubtful they'd ever drop their prices back down as quickly (if at all) if the market eventually corrected itself. Hopefully they're busy reinvesting that money toward improving their products (and you know damn well it's mostly going toward re-gearing their future production for electrification, but that's an entirely different conversation).

I'm sure it's all a complex balancing act for keeping the investors sufficiently rewarded for their risk, the workers adequately compensated for their time and effort, and the customers happy with the end product and value for the price paid.

At first I thought you were just going to throw him under the bus and say no one should make that amount of money. Glad I kept reading your post.

You know to me they are (when they are good) are the same as a good Quarterback in the NFL yeah seems unreasonable what they make but come on they make the team, Rodgers, Mahomes, Burrows (230 million 5 years fully paid for the Browns, what a dumb thing just me). When the team is making hundreds of millions or tens of millions sometimes you have to pay for that star. Good CEO's to me are like NFL QB stars they are rare and well worth the money if they are making good returns for the shareholders.

 

[jack bauer]

Good for him.

 

[Noway]

20 millions is not a lot for a company that made billions in profit. If he made that much , he deserves it. You make it sound like his job is easy and everyone can lead a multi billion company. I'm more amazed of Target offering $24 an hour to 17 year olds with no experience...

 

[Newbalewb]

Ok

 

[AFD]

At first I thought you were just going to throw him under the bus and say no one should make that amount of money. Glad I kept reading your post.

Always been a believer in free-market capitalism, but think when it comes to such large wages (especially versus what you can actually buy with that money) it's just a little hard for me to fully wrap my head around that kind of money. Sure, there will always be a relatively small percentage of folks that through hard work, talent, skill and/or a little luck will be able to earn millions each year - but as an average Joe, whether striving to be good or great at whatever, it's still a slightly foreign idea that's out of reach for most and honestly difficult to even imagine. Everything is relative and perspective changes everything. I'm sure a person born into significant wealth would likely have a difficult time imagining what it would be like to live within my means, same as I would perceive someone trying to get by in the slums of Mumbai.

Nothing at all wrong with being very wealthy, well off, middle-class or dirt poor (as long as your needs are taken care of and you're not hungry at night). And I'm certain my definition of "rich" could be vastly different than yours, OP's or Mr. Taveres', and there's nothing wrong with that either. They say 'money can't buy you happiness', but it sure as hell would help me afford some better-looking hookers! (never did that, but it sounds fun )

 

[Oilburner]

He signed off on the 392 Wrangler, he should get most of that salary for just that alone -

 

[JeepGeezer]

It sounds like a lot of money, but then French Income Tax rates will take about half of that and he may also be paying the equivalent of US State, County and City taxes as well.

The real question should be whether or not his work has served to reward both the public and the stockholders and, if so, I don't see anything to complain about.

And those who think that he makes too much money should read a bit about the late 1800s in the US and the economy that gave us Gugenheim, Rockefeller, Carnegie, Vanderbilt, Astor, Fisk and others. His income pales in comparison to those individuals.

 

[TX_Ovrlnd]

It's insane how much money some people make, but good on them I guess lol. I still have a hard time believing actors/actresses and sports people deserve to make as much as they do for such little contributions to society as they make...but that's my $0.02.

 

[TheBirdie72]

He drives a French 392. It is called:
“Trois cent quatre-vingt-douze Jeep”

The title barely fits across the side of his hood.

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