cincodias.elpais.com
Stellantis CEO Carlos Tavares Earned €36.5 Million in 2023
Carlos Tavares, former Stellantis CEO, received €36.494 million in compensation in 2023, 518 times the average employee salary, despite declining shareholder approval; Stellantis will appoint a new CEO by the first half of 2025.
- What are the potential implications of Tavares's sudden departure for Stellantis's future strategy and performance?
- Stellantis aims to appoint a permanent CEO by the first half of 2025. Until then, Chairman John Elkann will lead an interim executive committee. Tavares's departure and the upcoming succession process highlight the significant challenges and opportunities facing the automotive industry.
- What was Carlos Tavares's total compensation in 2023, and how does it compare to the average Stellantis employee salary?
- Carlos Tavares, former Stellantis CEO, earned €36.494 million in 2023, a 55.6% increase from 2022. This includes a €2 million base salary and €34.494 million in bonuses tied to performance goals. His compensation was 518 times the average Stellantis employee salary.
- How did shareholder support for Tavares's compensation change between 2022 and 2023, and what factors influenced this change?
- Tavares's compensation sparked internal debate, with shareholder approval dropping from 80% in 2022 to 70% in 2023. Despite this, his high pay was largely accepted due to Stellantis' record profits in 2022 (€16.779 billion) and 2023 (€18.625 billion), exceeding even Volkswagen's profits despite selling fewer cars.
Cognitive Concepts
Framing Bias
The article frames Tavares' compensation as the central issue, leading the reader to focus primarily on this aspect rather than a broader analysis of Stellantis' financial performance, market position, and overall business strategy. The headline (if any) would likely reinforce this focus. The opening paragraph emphasizes the high salary, setting the tone for the rest of the article.
Language Bias
The article uses loaded language such as "inmensa mayoría" (vast majority) when describing the bonuses, and phrases like "surfear el difícil contexto macroeconómico" (surf the difficult macroeconomic context) which has a positive connotation, potentially downplaying the challenges faced by the company. It could use more neutral terms, such as "large majority" and "navigate the challenging economic climate."
Bias by Omission
The article focuses heavily on Carlos Tavares' compensation, but omits details about the overall compensation structure of Stellantis executives. It also lacks information on the performance-based metrics tied to his bonuses, hindering a complete evaluation of whether his compensation is justified.
False Dichotomy
The article presents a false dichotomy by contrasting Tavares' high salary with the company's record profits, implying a direct correlation without considering other factors that could contribute to profitability. It also implies that only two choices exist regarding public opinion on his compensation (either strong support or opposition).
Sustainable Development Goals
The significant pay disparity between Carlos Tavares's compensation (36.494 million euros) and the average Stellantis employee's salary (70.404 euros), with Tavares earning 518 times more, highlights a considerable income inequality within the company. This vast difference contradicts the principles of fair and equitable income distribution promoted by SDG 10.