Money for Tavares
excessive, or is it?
Carlos
Tavares, the CEO of Stellantis said “the EV cost burden is 'beyond
the limits' for automakers”, in other words, it is impossible to turn
Stellantis into an EV company. And yet the Dare Forward 2030 plan asks him to do so with 75 models
(sic) and 5 mln car sales/yr. The sacrifice of his happy life to achieve this
will be ‘compensated’ for with €220 million if he succeeds. Tavares already
earns more than twice as much as the next legacy car CEO in Europe, Diess, i.e.
€19 mln versus €8 mln. CEO Zips of BMW got €5.3 million and Kelanius of
Mercedes-Benz had to make-do with €5.9 million.
This
situation raised quite a few eyebrows in Paris where excessive CEO payments are
severely frowned upon and not a few people want to limit
them. Fortunately for Tavares, his paymaster is a Dutch holding company. But
the question remains. Why? How come? Here’s the straight yet convoluted answer.
