Former Stellantis CEO Carlos Tavares to Receive €12 Million Exit Package

The payout includes €2 million in mandatory severance and €10 million for advancing the company's transformation goals.

Carlos Tavares, who stepped down as Stellantis CEO in December 2024, will receive a €12 million exit package as detailed in the company's annual report.
The package includes €2 million in severance required under Dutch law, as Stellantis is headquartered in Amsterdam, and €10 million for achieving milestones in the company's electrification efforts.
Tavares' total 2024 compensation amounted to €23.1 million, a 37% decline compared to 2023, reflecting the company's financial struggles and missed performance targets.
Stellantis reported a 70% drop in net profit for 2024, attributed to declining sales in North America, delayed vehicle launches in Europe, and operational challenges.
The high remuneration of Tavares, exceeding €100 million since 2021, has been a point of contention in France and Italy, sparking debates about executive pay in the automotive industry.