Overview

• A third of Stellantis shareholders (33.07%) voted against the executive pay report, which included former CEO Carlos Tavares’ 2024 compensation package.
• Tavares' remuneration for 2024 amounted to 23.1 million euros, a 37% reduction from 2023 but still controversial given Stellantis' 70% profit drop last year.
• The package included a 2 million euro departure indemnity and a 10 million euro bonus, though another 10 million euro bonus was denied.
• Critics, including AllianzGI and Proxinvest, argue the compensation is excessive given the company's financial underperformance and Tavares’ forced resignation.
• The shareholder vote, while advisory, highlights ongoing dissatisfaction with Stellantis' governance and executive pay policies during a challenging period for the company.