Although this day is marked by strikes and demonstrations to demand salary increases, in particular in certain Stellantis sites, Carlos Tavares was questioned on Tuesday by France News on your own compensation.
In 2021, the CEO of the automobile group actually received 19 million euros, a level of remuneration then controversial, until it was described as “excessive” by the President of the Republic. The shareholders had also voted against the remuneration of all the directors, including Carlos Tavares.
More recently, the question of the remuneration of the big bosses returned to the fore in the context of the social conflict in TotalEnergies, where the CGT notably criticized the remuneration of CEO Patrick Pouyanné. The latter replied on Tuesday afternoon. in a tweetgiving details of his remuneration.
“It is a contract between the company and its employee that I am”
To the question “do you think you deserved it?”, Carlos Tavares replied: “It is the translation that the company’s results are good or even very good”. The latter then returned to the criteria for defining this level of remuneration.
“This was the result of a decision by the board of directors of my company. I am an employee like any other, so I have a benefit, 90% variable salary. The board decides on a certain number of objectives, they are carried out, the company pays for them. It is transactional, it is a contract between the company and its employee, which is me”, he summed up.
The general manager of Stellantis also recalled that this remuneration was linked to the company’s results.
The CEO of Stellantis also noted that these questions about his remuneration were “a very specific issue for France.” “The question you ask me there, which is completely legitimate, has never been asked anywhere other than France,” continues Carlos Tavares.
3.2% increase in salaries and bonuses
The CEO of Stellantis also returned to share the wealth with the employees. “Regarding the results of 2021, we paid 1,900 million euros to our employees, 70% more than the previous year,” continues Carlos Tavares. This distribution linked to the financial results of the company corresponds in France to the payment of profit sharing and profit sharing bonuses, for example.
“We can criticize companies that create value, we can criticize all the salaries we want, the society in which we operate needs a certain number of engines so that value creation leads to wealth and then we can discuss how we distribute it, said Carlos Tavares, and it is completely legitimate to do so.
The CEO finally returned to inflation: between salary increases (3.2%), profit sharing bonuses and exceptional bonuses, “all these payments represent an increase in income of 7%” compared to 2022. Situation that does not necessarily convinces all employees. During an earlier strike at the Rennes factory on October 11, the unions called for wage increases “at the rate of inflation”, rather than bonuses.
Source: BFM TV
