Carlos Tavares suddenly abandoned the Stellantis ship in December, even though his five-year contract wasn’t set to expire until early 2026. The first and only CEO of Stellantis had held the position since 2021, when Fiat Chrysler Automobiles (FCA) and Peugeot Citroën (PSA Group) officially tied the knot, finalizing their mega-merger. In case you’re wondering how much money he earned during these four years, we have the juicy numbers.
The annual report filings published by Stellantis from 2021 through 2024 reveal that Tavares took home big paychecks every year. In 2021, his total remuneration amounted to €19,153,507. The following year, his annual pay jumped to €23,459,006. His most lucrative year at the helm of the automotive conglomerate was 2023, when he earned a whopping €36,494,025. Last year wasn’t terrible either, with the official documents showing the princely sum of €23,085,718.
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Stellantis
During his four years as Stellantis CEO, Tavares earned precisely €102,192,256, or about $106,200,000 at current exchange rates. However, as the adjacent regulatory filings show, his annual base salary was “only” €1,986,290 in 2021 and €2,000,000 in the next three years. The massive difference stems from short- and long-term incentives, a post-retirement benefit expense, and fringe benefits.
But wait, there’s more. The 2024 filing also details a Separation and Release Agreement, which calls for a €2 million payment this year. Tavares will also receive another €10 million this year after meeting a “second milestone.” In January 2026, the former CEO will get 800,000 shares in the company, but those have already been included in the compensation for 2024.
Last year was particularly bad for Stellantis. The company suffered a 70% decrease in net profit and a 17% decrease in net revenue. Sales fell by 12% due to “temporary gaps in product offering.”
2025 is off to a rough start for the company in the 27 European Union countries, plus Iceland, Liechtenstein, Norway, Switzerland, and the UK. Numbers published by the European Automobile Manufacturers’ Association (ACEA) show Stellantis fell by 16% compared to January 2024. Except for Alfa Romeo, all the other brands were down.
The search for a new CEO continues, and Stellantis will announce Tavares’ successor in the first half of the year.