“I had 10 soldiers with machine guns in their hands to protect me in Brazil”: Carlos Tavares, who received 80 million euros in Stellantis, believes that the remuneration of big bosses is justified

The former boss of Stellantis warned of the “consequences” of limiting the salaries of large employers. “I understand” that this salary could be considered too high, “but I mean [cette] ask those who make this criticism, saying [d’avoir] the courage to legislate,” said Carlos Tavares this Tuesday night on BFMTV.

Carlos Tavares, whose high remuneration when he headed Stellantis had been the subject of recurring criticism, confirmed that he received 80 million euros during his four years at the head of the automotive group.

“Assume your responsibilities. If you think it’s too much, then you decide to legislate” to limit the remuneration of big bosses, “but you have to assume the consequences,” Carlos Tavares continued, listing “the investment,” “the fact that the best French engineering talents are all working in California” and “the fact that French scientists can find future vaccines for pandemic problems for companies abroad.”

“Physical risks” for big bosses

The former manager especially regretted the “lack of knowledge” about employers’ responsibilities. “It is ignorance, because we do not explain,” he insisted. Carlos Tavares mentioned in particular the “physical risks” that big bosses run during their trips abroad and gave as an example the level of protection that was necessary for him as head of Stellantis, citing “at least ten soldiers with machine guns in their hands” in Brazil. Carlos Tavares also spoke about the risk of “accusation” and the complex regulation of financial markets.

The latter contains many “gray clauses” and “that leave the door open to interpretation,” which “represents an enormous risk for the manager,” he said.

Regarding the “Zucman tax” proposal that is revolutionizing current budget debates, Carlos Tavares estimated that “obviously it would have been somewhat demotivating” if he had still been head of Stellantis and, therefore, worried. “If it is a real, sincere and concrete effort to rebalance the accounts, it is an effort that deserves to be made,” because “the current situation in France is not a sustainable situation,” he continued, fearing “fragmenting society a little more” by designating “a part of society” as a “scapegoat.”