33% of shareholders reject the record compensation for the former CEO, but Elkann claims that the decision is right. Stellantis closes a disappointing 2024
There REVOLUT OF THE STARNIS OFFERS OF STARNIS It was unleashed against the maxi liquidation that will be paid to the former CEO, Carlo Tavares. During the General Assembly a Amsterdam33.07% of shareholders voted against the compensation policy of the managers, expressing their dissent against the Remuneration Reportwhich includes a remuneration of 23.1 million euros for 2024 for Tavares, together with 20 million euros and a compensation of 2 million for his departure.
The Record compensation It clashes with the decidedly disappointing management results. The favorable vote of Elkann And of the French members appears to be an attempt to close an uncompromising affair, downloading all the responsibilities on Tavares. This move would have avoided further controversies and harsh tones.
Disappointing results and future worries
Stellantis’ budget 2024 presented very negative numbers. The In turnover, it fell to 156.9 billion eurosrecording a drop of 17% compared to 2023, while thenet profit has collapsed by 70%stopping at 5.5 billion euros.
In his intervention, Elkann He defined the year just concluded as “certainly not to remember”, attributing part of the faults to internal choices to the company, which made the results even more disappointing. The situation was further complicated by misalignment between the Board of Directors and Tavareswho left Stellantis in December 2024. Elkann confirmed that the Appointment of the new CEO It will take place in the first half of 2025.
Concerns about the future of the automotive industry
Elkann worries are mainly duties and the regulations Too rigid. “The American and European car industry is at risk. It would be a tragedy,” he said, underlining that If the United States and Europe undertake urgent actionsthe situation could improve. In particular, Elkann highlighted the negative impact of the duties, including a 25% duty on vehicles and additional rates on aluminum, steel and components. However, Stellantis It is focused on Launch of new products and on the improvement of its activities, despite the difficult context in Europe and the United States. In the meantime, the automotive market Chinese He is following a completely different trajectory.
Optimistic bag on the future of Stellantis
Despite all the difficulties, the bag has shown confidence in the future of Stellantis, with the title that has risen 5.7%coming to 8.27 euros.
