CEO Carlos Tavares, the company aggressively sought savings. In North America, layoffs and buyouts have been relentless in recent years.
Former Stellantis CEO Carlos Tavares made $23.9 million last year. He’ll be getting an additional $12.5 million this year in severance and bonuses. While Tavares was deploying his golden parachute, Stellantis’ net profit fell 70% in 2024.
Carlos Tavares departed the automaker in December. He's still owed severance payments and company shares, a report shows.
MotorTrend on MSN4d
After a Very Rough Year, Stellantis CEO Will Retire Amid Executive ShuffleAdding to the chaos in Stellantis' ranks, after less than a year North America chief Carlos Zarlenga also gets the boot.
Carlos Tavares, the former CEO of global automaker Stellantis saw his total pay fall 37% last year to 23 million euros ($23.91 million) before he unexpectedly resigned in December.
CEO, Carlos Tavares, left the automaker in December as the company struggled with issues from down sales to fights with stakeholders.
Former Stellantis chief executive Carlos Tavares received a €23mn pay package in 2024 and a €12mn severance deal for his sudden resignation in December following a sharp deterioration in the carmaker’s performance.
The automaker, which is now searching for a new CEO after the resignation late last year of Carlos Tavares, faced a range of struggles in 2024, including down sales and high inventories. The figure released by Stellantis puts it well behind its Detroit ...
Stellantis, S&P
· 3d
Stellantis (STLA) Gets a Credit Downgrade from S&P Global
· 4d · on MSN
S&P downgrades Stellantis rating, expects tariff headwinds
S&P Downgrades Stellantis Over Margin Concerns
S&P Global Ratings lowered its credit rating on Stellantis after the Jeep and Chrysler maker's margins last year were dented by a pullback in shipments. The ratings firm said Thursday that Stellantis's 2024 margins came in below prior expectations after the company took actions to reduce North American dealer inventory ahead of schedule.
Stellantis gave a cautious outlook for 2025 after its annual results took a hit from a slump last year in its U.S. business that led to the ousting of Carlos Tavares as CEO.
Stellantis on Wednesday reported second-half and full-year 2024 earnings, highlighting a challenging period for the owner of Jeep, Ram, Chrysler, Dodge and Fiat, which is currently searching for a new CEO after the departure of Carlos Tavares.
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