The financial report of Stellantis for the year 2021 it has put on paper the remuneration of the main managers. There are Carlos Tavares, John Elkann, Robert Peugeot and Andrea Agnellibut besides them it also appears Sergio Marchionne, who died in 2018. However, this is not an error. The manager who brought about the merger between Fiat and Chrysler is still ‘paid’ through an agreement that benefits the heirs, essentially his family. In total the Marchionne in 2021 they obtained 26.1 million euros in compensation, including end-of-term benefits (equal to five times his base salary). This is a ‘legacy’ remuneration that the board of directors of the automotive group has not failed to respect.
Also Michael Manley, former CEO of FCA, received money from Stellantis. Specifically, Manley obtained 11.7 million euros for the year 2020, and another 305 thousand euros in 2021. Other former directors, such as Richard Palmer, John Abbott, Tiberto Brandolini d’Adda, Gleen Earle, Valerie Mars, Ronald Thompson, Michelangelo Volpi, Patience Wheatcroft e Ermenegildo Zegna have received bonuses for the past year and 2020, with Palmer in particular taking home over € 19 million.
Within the current board of directors of Stellantis, the highest remuneration is for CEO Carlos Tavares. The CEO obtained 19.1 million euros. In second place it places John Elkann, with a fee in 2021 of € 7.8 million. The vice president Robert Peugeot and Andrea Agnelli, director, have relatively taken the crumbs: their remuneration has stopped respectively at 203 thousand and 226 thousand euros.
Going to see in detail, Elkann obtained a base salary of 860 thousand euros; the bulk of the 2021 gain was achieved thanks to long-term incentives. Tavares, on the other hand, hit the jackpot with a salary of 2 million euros, to which short and long-term incentives must be added, as well as additional compensatory items. We recall that both are direct shareholders of Stellantis.
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