Stellantis’ new CEO Antonio Filosa will begin his tenure with $1.8 million annual compensation which could grow to $23 million by 2028 based on a company document shared before the July 18 shareholder meeting.
The new CEO will receive annual performance-based bonuses that can reach 400% of his base salary based on Stellantis meeting its financial targets and business objectives. The company will grant Filosa long-term incentives through share awards which will reach a maximum value of 500% of his base salary during the current year and will increase to 780% starting in 2027.
Stellantis will provide Filosa with $1.2 million in annual cash payments throughout 2028 to bridge the period until his long-term incentives become active. The company stated this method would provide leadership stability because Stellantis needs to maintain stability during its efforts to regain U.S. market share while facing competitive automotive competition.
The board appointed Filosa as CEO after Carlos Tavares stepped down in December 2023 due to strategic disagreements. Tavares received a €35 million ($38 million) payment in 2023 despite the company’s declining sales and profits and deteriorating relationships with dealers and suppliers.
The new CEO will gain access to U.S. health care and retirement benefits together with company aircraft and vehicle privileges for personal use. The auto giant has chosen Filosa to lead its operations because it needs to adapt to industry changes while rebuilding its market position in key regions.
