Stellantis CEO To Earn More In His First Year Than Most Will In A Lifetime Yet Still Trails Rivals

Being at the wheel of one of the world’s biggest automakers pays well, but not as well as your predecessor’s, at least for now

                                        https://www.carscoops.com/author/bradcarscoops-com/                                    

Imagine walking into a new job and being told that you could earn $10.2 million in your first year. Well, that’s exactly how much new Stellantis chief executive Antonio Filosa could earn in his first year behind the wheel of the carmaker. However, his salary pales in comparison to that of his predecessor, as well as some other bosses across the automotive industry.

A recent filing from Stellantis reveals that Filosa’s base salary for the forthcoming year will be a cool $1.8 million. In addition, he could be eligible to receive up to 400% of his base salary in his first year through a short-term incentive. This could rise to 500% for 2025-2026 and reach as high as 780% in future years.

Read: Maserati’s Future Up In The Air As Stellantis Scrambles For A New Plan

He may also receive a $1.2 million cash payment until he is eligible for long-term incentives in 2028 and will get tax equalization benefits to offset taxation in other countries, including $975,000 per year until the end of 2026 as part of his current contract. Evidently, leading one of the world’s largest car manufacturers pays very well.

However, Filosa will earn far less than the man he has replaced: Carlos Tavares. In 2023, the Portuguese businessman earned approximately $40 million to lead Stellantis. He then went on to earn $23.9 million in 2024. Like Filosa, he had been hired on a five-year term, but resigned after 3.5 years, and according to Auto News, will receive about $40 million following his resignation, including deferred compensation.

How Filosa Compares Across the Industry

General Motors boss Mary Barra and Ford chief executive Jim Farley are also earning much more than Filosa will. Last year, Barra received total compensation worth $29.5 million, while Farley received a cool $24.9 million.

Filosa’s salary is more in line with some automakers outside the US. For example, VW chief executive Oliver Blume received roughly €10.35 million (~$11.8 million) last year, and Renault boss Luca de Meo earned approximately €5.5 million (~$6.2 million). Additionally, Toyota chairman Akio Toyoda received around $10 million, and Hyundai CEO Euison Chung earned 11.5 billion won or ~$8.8 million.