How Much Did Stellantis CEO Carlos Tavares Make In 2023?

Comparing the Salary Structures of Carlos Tavares and John Elkann...

In 2023, the top brass at Stellantis, one of the automotive industry’s heavyweights, saw some notable shifts in their compensation packages. Let’s delve into the numbers and what they signify for the company and its leadership.

Carlos Tavares, Stellantis CEO – 

Stellantis CEO, Carlos Tavares and Alfa Romeo CEO Jean Philippe Imparato in a Alfa Romeo Tonale Veloce. (Stellantis).

Carlos Tavares, the CEO of Stellantis, navigated the company through a year of challenges and triumphs. His salary in 2023 amounted to approximately €13.5 million (or about $15.3 million), marking a decrease from the previous year’s €14.9 million.

Breaking down his compensation reveals an interesting mix. Tavares’ base salary held steady at €2 million (approximately $2.27 million), consistent for the past three years. Added to this was a variable remuneration linked to performance indicators, which amounted to €11.5 million (around $13.06 million). This variable component saw a decrease of around €1.4 million compared to 2022.

However, what set 2023 apart was the additional incentives Tavares received. He was awarded a substantial €10 million (approximately $11.35 million) bonus for his pivotal role in propelling Stellantis towards becoming a provider of technologically sustainable mobility solutions. This bonus, approved in 2021 as part of a strategic five-year plan, underscores Tavares’ leadership in driving innovation within the company.

Furthermore, Tavares stands to gain long-term incentives totaling €13 million (around $14.75 million), contingent upon meeting specific performance targets in the years ahead. His adept stewardship has positioned Stellantis for success, reflected in the company’s commendable performance under his guidance.

John Elkann, Stellantis President – 

John Elkann (Left) & Ernesto Fürstenberg Fassio (Right) with the Jeep® Compass Trailhawk 4xe. (Stellantis).

John Elkann, the President of Stellantis, also saw adjustments in his compensation for 2023. His total salary amounted to €4.82 million (approximately $5.46 million), marking a decrease from the previous year.

Elkann’s salary comprised a fixed portion of €924 thousand (around $1.05 million), supplemented by €684 thousand (approximately $776 thousand) in additional benefits and €3.2 million (about $3.63 million) in incentives. Compared to 2022, Elkann’s total compensation experienced a reduction of approximately one million euros.

While both Tavares and Elkann saw decreases in their total compensation for 2023, these adjustments reflect the dynamic nature of executive remuneration tied to performance and strategic objectives. As Stellantis continues its journey towards innovation and sustainable mobility solutions, the leadership’s compensation structures mirror the company’s commitment to driving growth, efficiency, and long-term value creation.

Robert S. Miller

Robert S. Miller is a diehard Mopar enthusiast who lives and breathes all that is Mopar. The Michigander is not only the Editor for MoparInsiders.com, 5thGenRams.com, and HDRams.com but an automotive photographer. He is an avid fan of offshore powerboat racing, which he travels the country to take part in.

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Incentives drive behavior. Now we know why Mopar lost the plot and electrified its once venerable line up.

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