CEO Pay: Stellantis Edge

Big Pay Days

Starting a new job with the opportunity to earn $10.2 million in the first year sounds like a dream, doesn’t it? That’s the scenario for Antonio Filosa, the freshly appointed chief executive officer at Stellantis. Despite the sizable paycheck, it’s overshadowed by his predecessor’s earnings and other executives in the automotive industry.

Compensation Details

New Stellantis CEO Filosa’s base salary for the upcoming year is set at $1.8 million. On top of that, he has the potential to earn up to 400% of his base salary as a short-term incentive in his first year. This figure may increase to 500% between 2025-2026 and could reach a staggering 780% in the years following. In addition, he’s in line for a $1.2 million cash payment annually until he’s eligible for long-term incentives by 2028. Tax equalization benefits, amounting to $975,000 each year until the end of 2026, are also included in his contract to mitigate overseas tax burdens.

Comparisons in the Industry

While Filosa’s earnings are impressive, they’re a far cry from what Carlos Tavares took home. In 2023, Tavares raked in approximately $40 million. After resigning with a five-year term only partially fulfilled, Tavares walks away with about another $40 million, including deferred compensation.

In the broader automotive world, Filosa’s salary does not match up with that of General Motors’ Mary Barra or Ford’s Jim Farley. Last year, Barra earned $29.5 million and Farley $24.9 million. Filosa’s earnings are more comparable to executives abroad, with VW’s Oliver Blume at approximately $11.8 million and Renault’s Luca de Meo at around $6.2 million.

Executive Salaries in Perspective

Comparatively, Toyota’s Akio Toyoda collected around $10 million, and Hyundai’s Euison Chung earned about $8.8 million. Filosa’s compensation aligns with international benchmarks more than domestic ones.

Leading one of the largest global automakers involves steering not only the strategic direction but also the financial success of a much-anticipated market. While the numbers for Filosa’s paycheck are significant, they reflect a broader trend in executive compensations where leading industry figures command substantial incomes. It’s a lucrative role, but given the high stakes involved in guiding an automotive titan, perhaps it’s justified.