Carlos Tavares to Receive €12 Million Exit Package After Stellantis Departure

The former Stellantis CEO's payout includes a €10 million bonus for achieving key transformation milestones, despite the company's financial struggles in 2024.

Carlos Tavares stepped down as Stellantis CEO on December 1, 2024, following a year of significant financial challenges for the company.
His total exit package amounts to €12 million, including €2 million in severance required by Dutch law and a €10 million bonus tied to company transformation efforts.
Stellantis reported a sharp 70% drop in net profits for 2024, down to €5.5 billion, with operational margins halved to 5.5%.
Tavares' 2024 compensation totaled €23.1 million, a 37% decrease from 2023, primarily due to the absence of performance bonuses as financial targets were not met.
Since taking the helm in 2021 after the PSA-Fiat Chrysler merger, Tavares has earned over €100 million in total compensation, sparking ongoing debates over executive pay.