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Stellantis Investors Reject Pay Plan After CEO Tavares Draws Fire
- More than half vote against company’s remuneration policy
- CEO’s pay is under scrutiny in France for being too high
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Stellantis NV shareholders rejected the automaker’s compensation policy in a non-binding vote after Chief Executive Officer Carlos Tavares’ pay came under fire in France.
The remuneration report was opposed by 52% of voters at an annual meeting held online Wednesday. The maker of Fiat, Jeep and Peugeot autos paid Tavares 19.2 million euros ($20.9 million) last year, according to its annual report. That doesn’t include long-term incentives.