They do not pass, the 66 million euros that Stellantis plans to pay to Carlos Tavares, as a salary for 2021 and as a reward for the successful merger of PSA with Fiat Chrysler. To the bronca of the unions was added the negative vote, on Wednesday 13 April 2022, of a majority of shareholders.
But this vote is only advisory in the law of the Netherlands, where Stellantis is registered. Will Carlos Tavares hit his jackpot? If there is no new general meeting of shareholders, extraordinary, it is that it is maintained.
In France, since a law passed under François Hollande, executive compensation must be approved by shareholders. We are therefore no longer expected to review the controversy sparked in 2016 by the payment of more than 7 million euros to Carlos Ghosn, despite their opposition, while the Renault-Nissan CEO received even more from his ally Japanese.
Wages and dividends on the rise
The financial moderation observed at the height of the pandemic in 2020 is no longer appropriate. In 2022, the shareholders of the 28,000 listed companies worldwide will receive an unprecedented amount of 1,800 billion euros. On the big boss side, at least in the United States, the annual compensation of the top 500 US leaders for 2021 has increased by 6%, reaching an average of $13.15 million per capita, according to the Wall Street Journal.
Soon we will have another possible case of controversy in France, with the tricolor insurance giant Axa. His general manager, Thomas Buberl, would see his salary increase from 5.8 to 6.9 million euros. At least if the shareholders approve it at the general meeting of April 28. What ISS, an influential voting consultancy, advises against.
A “shocking” and “astronomical” salary
The Carlos Tavares affair, between the two rounds of the presidential election, forced the two candidates to position themselves. Facing a assessed salary shocking”,
Marine Le Pen proposes a confused control system based on systematic employee ownership.
Emmanuel Macron, whose tax policies have been beneficial to businesses and shareholders (reductions in corporate taxes, production taxes and taxes on equity income), described him asastronomical
Carlos Tavare’s payslip. He argues for a limit on executive pay, but absolutely on a European scale.
Laurent Berger was therefore rightly indignant about the establishment of Stellantis in the Netherlands,
recalls Christine Virassamy, CFDT Central Union Delegate.However, we were assured it was for geographic neutrality, not for financial benefits…
