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Macron and Le Pen agree: Carlos Tavares' salary is "exaggerated and shocking"

Macron and Le Pen agree: Carlos Tavares’ salary is “exaggerated and shocking”

Alexander Miguel / Wikimedia

Portuguese Carlos Tavares, former No. 2 at Renault, head of Peugeot/Citroen/Opel

French President Emmanuel Macron considered, on Friday, the “astronomical” value of the salary of Portuguese Carlos Tavares, CEO of the French automaker Stylantis, “shocking and excessive.”

According to the agency ReutersThe French president, who is currently running for re-election in the second round of presidential elections, has strongly criticized the “shocking and excessive” amount of reward for Carlos Tavares, asserting himself in favor of Bonus “roofs” at the level of the European Union.

“At some point, we will have ceilings and a governance structure at the European level. Makes things acceptable“Otherwise, at a certain point, society will explode,” the French president said, speaking to France Info.

also Marine Le Penwhich competed Macro on April 24 to second round Presidential elections, criticized The “astronomical value” of the salary Head of the car group, born in 2021 from the merger of Peugeot-Citroen with Fiat-Chrysler.

Of course it’s horribleLe Pen said, speaking to BFM TV. “It’s even more shocking when they are CEOs who have problems. It happens a lot.”

For Marine Le Pen, the reward is “Shocking but less shocking from others”, because at least The group made a profit.

In response to these criticisms, the company’s management indicated that Tavares took over his leadership at a time when PSA was facing difficulties and close to bankruptcy, as it was “Transformed the company into the world leader in this sector“.

Stellantis states that in less than eight years, under the leadership of Carlos Tavares, Groupe PSA I moved from near bankruptcy to a pioneering company sector on a global scale,” the company said, in a statement.

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This Wednesday, Stellantis contributors They voted against the increase From the 2021 bonus to Carlos Tavares, to 19.1 million euros.

The Automotive Group stated, in a statement, that at a general meeting, shareholders voted against the bonus report by 52.1% to 47.9%, in this case the shareholders voted against the bonus report. Shareholder vote advisory.

Hours before the general meeting, the French government put pressure on Stellantis shareholders. In an interview with BFMTV, the CEO’s spokesperson, Gabriel Attalthat “there should be a better distribution of corporate profits.”

According to Atal, the government is led by Emmanuel Macron wants to abide by the law To profitable companies Sharing good results with their workers as well as a requirement that senior executives be rewarded with “respect for environmental and social objectives.”

Non-Executive Chairman of Stellantis, John Elkannyou should also receive 7.8 million eurosand Chief Financial Officer Richard Palmer, 14.8 million.

Heirs of former Fiat Chrysler CEO Sergio Marchionne, who died in 2018, also You should get 26 million euros.

Repayment scheduled for 2021 stems from record profits achieved by the fourth largest car group in the world in 2021, including 13354 million euros Three times what was recorded in 2020.

Stellantis, which has 281,000 employees spread across many countries, decided to do so Gives workers 1900 million in profits For 2021, the value of that Unions are not enough Compared to 3,300 million euros will be distributed to shareholders.

The trade union delegate of the General Labor Confederation, Jean-Pierre Merciereligible to reward Carlos Tavares as “indecent” and “outrageous”It is reported that the increase in workers’ salaries amounted to 2.8%.

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“For a worker who earns 1,500 euros a month, that means another 40 euros. How do you deal with high prices, especially fuel?”