Chris Bryant, Columnist

Stellantis’ ‘Frugal’ Boss Earns $40 Million. He’s Worth It.

Carlos Tavares is a highly capable heir to the late Sergio Marchionne.

February 28, 2024 at 5:00 AM UTC

Chris Bryant is a Bloomberg Opinion columnist covering industrial companies in Europe. Previously, he was a reporter for the Financial Times.

The torch has been passed.
Photographer: Nathan Laine/Bloomberg

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Once described as the “the world’s most frugal auto executive,” Stellantis NV boss Carlos Tavares has made an eye-catching exception to his legendary penny pinching — his own pay.

Last week the Netherlands-based owner of Peugeot, Fiat, Jeep and Ram revealed its Portuguese chief executive officer was awarded €36.5 million ($39.6 million) in remuneration for 2023. (Some of this total is unvested — the amount of cash and vested equity received now is a mere €23.5 million.)