Ex-Stellantis CEO Carlos Tavares is walking away with a sizable payday

According to the company's latest financial report, Carlos Tavares earned a compensation package worth $24 million (23 million euros) in 2024. He also received an exit sum of $12.5 million (12 million euros) in severance and bonuses.

Judging by compensation alone—that’s a steep drop from the $39 million he made in 2023 as the highest-paid legacy auto CEO.

• But back then—Stellantis was highly profitable—having kept production (mostly) running during COVID shortages while some of its rivals struggled.

• The company capitalized on its success by trying to move its brands upmarket. But that strategy flopped.

• Prices for Stellantis brands like Jeep, Ram, Chrysler, and Dodge shot up, and consumers weren't willing (or able) to spend that much.

But digging deeper: Since 2018—Stellantis has lost 630,000 sales or just over 3.5% in market share by discontinuing popular models like the Dodge Grand Caravan, Jeep Cherokee and Jeep Renegade. 

• However—newer models introduced like the Dodge Hornet and Jeep Wagoneer have only added ~76,000 in sales, per a Haig Partners analysis.

This led to widespread frustration from dealers as inventories climbed and, well... sat.

• As a result—Stellantis’ net profit plunged 70% in 2024. Its North American business took the biggest hit, with market share declines and an 80% drop in adjusted operating income.

• And Stellantis’ results mean over 38,000 UAW-represented workers will see their profit-sharing checks slashed to $3,780—from last year’s $13,860.

Looking ahead: The automaker says it expects to name a new CEO in the first half of 2025. Meanwhile—Ford and General Motors are set to release their own executive compensation figures soon—which are sure to draw some scrutiny.

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