Home » Stellantis compensation: Elkann down, Tavares record: +55%. Ferrari, Vigna goes up. How much do they earn?

Stellantis compensation: Elkann down, Tavares record: +55%. Ferrari, Vigna goes up. How much do they earn?

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Stellantis compensation: Elkann down, Tavares record: +55%.  Ferrari, Vigna goes up.  How much do they earn?

Elkann’s comment

According to Elkann, 2023 «was a year marked by new projects and important goals for Stellantis. Our mission to provide clean, safe and accessible freedom of mobility for all has never been more important, and the resilience of our colleagues, under the leadership of Carlos Tavares, has made the difference.”

Tavares: «Transformation is an opportunity»

The latter echoed him: «I often use the phrase “actions speak louder than words” and in 2023 we have doubled our efforts on this mantra. We have once again demonstrated our ability to execute, innovate and transform into a sustainable mobility technology company, poised to exceed expectations.”

«There is no doubt that the enormous transformation now taking place in our industry is an opportunity – not a threat – to shake up the status quo, redefine our destiny and demonstrate that we have the best teams to face fierce competition. We have the people and the mentality, even if we are not always perfect. The Dare Forward 2030 Plan is our bold roadmap and on this journey, despite all kinds of headwinds, we already have some incredible victories under our belt, creating value for our stakeholders.”

The CEO also mentioned the new Chinese venture: «This year we invested 1.4 billion euros in Leapmotor, a manufacturer of original equipment for new energy vehicles, and we now hold approximately 21% of the share capital, which gives us assigns a leading role in supporting their promising growth in China and global expansion opportunities through the new joint venture Leapmotor International, which we will manage. We are actively addressing a gap in our business model and can now benefit from Leapmotor’s competitiveness both in China and abroad.”

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Growing remunerations for Ferrari top management

In 2023, as indicated in the financial statement report of the Maranello company, which shares the shareholder Exor (holding of the Agnelli-Elkann family) with Stellantis, the CEO of the Maranello car manufacturer, Benedetto Vigna, received a total remuneration of 6 .7 million euros, increasing from 4.99 million in 2022. The main compensation items are the annual salary (1.5 million), the variable part of the remuneration (2.9 million) and the long-term incentive plan term (1.99 million). President John Elkann received a total remuneration of 2.39 million euros from Ferrari (1.98 million in 2022). The main items consist of the annual compensation (514 thousand euros), the variable part (985 thousand euros) and the long-term incentive plan (879 thousand euros).

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