Stellantis Investors Back Ex-CEO’s €23.1 Million Payout (2)

Stellantis NV won support from shareholders for awarding former Chief Executive Officer Carlos Tavares €23.1 million ($26.1 million) for a year of declining sales and earnings.

Investors on Tuesday voted 67% in favor of the Jeep maker’s remuneration report in a non-binding vote at its annual general meeting in Amsterdam. The report included Tavares’ salary for 2024 and an additional €12 million in severance and milestone bonus payments he’ll receive this year.

Allianz Global Investors and proxy advisers including Proxinvest had urged investors to reject the pay plan after Tavares presided over slumping demand in the US, model delays in ...