Stellantis CEO to Make More in His Initial Year Than Most Will Throughout Their Lifetime, Yet Still Lags Behind Competitors | Carscoops

      Taking the helm of one of the largest automotive manufacturers in the world comes with a lucrative salary, but it doesn’t quite match what your predecessor made—at least for the time being.

      New Stellantis CEO Antonio Filosa has the potential to earn up to $10.2 million by 2025.

      Former CEO Carlos Tavares made about $40 million in 2023.

      Filosa's pay is less than that of GM CEO Mary Barra and Ford CEO Jim Farley.

      Imagine starting a new job with the prospect of making $10.2 million in your first year. That’s the amount that Antonio Filosa could earn as the new head of Stellantis. However, this figure is significantly lower than what his predecessor and several other executives in the automotive sector receive.

      A recent report from Stellantis indicates that Filosa’s base salary for the upcoming year will be $1.8 million. Furthermore, he could be eligible for a short-term incentive that may provide up to 400% of his base salary in his first year, potentially increasing to 500% for 2025-2026 and reaching up to 780% in subsequent years.

      He is also set to receive a $1.2 million cash payment until he qualifies for long-term incentives in 2028, along with tax equalization benefits to mitigate taxation in various countries, totaling $975,000 per year until the end of 2026 as per his current contract. Clearly, leading one of the globe's major car manufacturers is financially rewarding.

      Nonetheless, Filosa's earnings will be significantly less than those of his predecessor, Carlos Tavares. In 2023, Tavares, a Portuguese executive, earned around $40 million while guiding Stellantis and subsequently made $23.9 million in 2024. Like Filosa, Tavares was appointed for a five-year term but resigned after 3.5 years, and it is reported by Auto News that he will receive an estimated $40 million following his departure, which includes deferred compensation.

      How Filosa Compares Within the Industry

      Mary Barra, the General Motors CEO, and Jim Farley, the Ford CEO, are also enjoying compensation packages that exceed Filosa's earnings. Last year, Barra's total compensation reached $29.5 million, while Farley earned $24.9 million.

      Filosa’s salary aligns more closely with those of executives at automakers outside the U.S. For instance, VW CEO Oliver Blume earned about €10.35 million (around $11.8 million) last year, while Renault’s Luca de Meo took home approximately €5.5 million (about $6.2 million). In addition, Akio Toyoda, chairman of Toyota, received roughly $10 million, and Hyundai's CEO Euison Chung earned 11.5 billion won, which is approximately $8.8 million.