Stellantis’ newly appointed CEO Antonio Filosa stands to earn significant compensation as he takes the reins of the multinational automaker, though his pay package will be lower than that of his predecessor Carlos Tavares. A company document outlines Filosa’s compensation structure, which begins with modest earnings in his first two years but could reach up to $23 million annually from 2028 if performance targets are met.
Compensation Structure
Filosa officially becomes CEO at the end of this month, tasked with revitalizing the company’s performance and reclaiming lost U.S. market share for brands including Chrysler, Peugeot, and Jeep. His compensation package includes:
An annual base salary of 1.8million,slightlybelowthe€2million(2.3 million) received by Tavares
Annual bonuses worth up to 400% of his base pay, tied to achieving financial and business objectives
Long-term incentives (LTIs) in the form of company shares, starting from up to 500% of his salary this year and increasing to a maximum of 780% from 2027
A cash award of $1.2 million annually until the LTIs are paid out in 2028
Performance-Based Earnings Potential
The structure of Filosa’s compensation clearly emphasizes performance-based earnings. While his base salary appears modest compared to industry standards for automotive CEOs, the potential for substantial bonuses and share-based compensation creates significant earning potential:
In his first two years, Filosa will earn at least $4 million annually
From 2028 onward, his total compensation could reach up to $23 million per year if he meets all performance targets and receives the maximum share-based awards
This performance-based approach contrasts with his predecessor’s compensation package. Tavares, who abruptly resigned in December due to disagreements with the board over strategy, received a final compensation package of €35 million despite significant business challenges, including plummeting sales and profits, as well as strained relationships with suppliers, dealers, and investors. In 2023, during Stellantis’ record performance year, Tavares earned a total of €36.5 million.
Additional Benefits
Beyond the monetary compensation, Filosa will receive:
Access to the company’s U.S. health care and retirement plans
Tax equalization benefits
Fringe benefits including personal use of company aircraft and vehicles
Personal security services
Annual medical checkups
Leadership Stability Focus
The company document emphasizes leadership stability, stating that Filosa’s five-year term is designed “to ensure leadership stability and maximize the ability of the company to respond effectively to profound and prolonged industry change.” Filosa will be appointed to the executive board at the July 18 extraordinary general meeting.
This compensation package reflects Stellantis’ strategy to attract and retain top executive talent while aligning executive rewards with company performance metrics. The emphasis on long-term incentives suggests the board’s focus on sustainable growth rather than short-term gains, particularly important as Filosa faces the challenge of revitalizing Stellantis’ competitive position in the global automotive market.
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