The company suffered a massive loss of 26.3 billion USD, and Stellantis' new CEO, Philippe, still earned as much as 5.4 million euros last year.

IT Home, March 3 — Running a global automotive giant obviously comes with high salaries. Antonio Filosa, CEO of Stellantis, is experiencing this firsthand. According to Carscoops, in his first year after replacing Carlos Tavares, Filosa’s total compensation reached €5.4 million (IT Home note: approximately 43.36 million RMB at current exchange rates).

His compensation includes: a basic salary of €1.4 million, plus €374,000 in additional benefits covering transportation, vehicles, insurance, and other allowances. Additionally, he receives allowances related to North American Chief Operating Officer duties, €1.5 million in unpaid long-term incentives, and retirement benefits.

Filosa could have earned several million euros more through an annual incentive plan. However, according to Detroit News, because Stellantis failed to generate positive cash flow last year and recorded a net loss of $26.3 billion (approximately 181.55 billion RMB at current exchange rates), he was ineligible for this incentive.

Even so, Filosa’s 2025 salary is about 82 times that of Stellantis’ average employee, whose annual income is approximately $78,000 (about 538,000 RMB at current exchange rates). The gap is significant, even relatively restrained compared to his predecessor. However, for many Stellantis employees, the real concern this year isn’t executive pay but the complete absence of bonuses.

For the first time in years, hourly workers represented by the United Auto Workers (UAW) at Stellantis will receive no profit-sharing bonuses, due to the company’s North American operations losing $2.2 billion (about 15.187 billion RMB at current exchange rates). According to union contracts, bonuses are directly tied to profit margins; no profit means no bonus. The absence of bonuses has sparked strong criticism from union leaders, especially since Ford and General Motors employees will still receive thousands of dollars in bonuses.

Although Carlos Tavares was dismissed from his role as Stellantis CEO at the end of 2024, he still received €12 million (about 96.968 million RMB at current exchange rates) last year, mainly from a substantial severance package and €10 million (about 80.087 million RMB) in performance incentives. However, this amount is far below his previous salary levels.

In 2023, Tavares’ annual salary was €36.5 million (about 295 million RMB), with approximately €26.1 million (about 211 million RMB) coming from long-term incentives mainly linked to a new transformation incentive — upon Stellantis achieving three out of seven performance goals. These goals included: 15% of sales from low-emission models in Europe, start of electric motor mass production, and launch of a new electrified dual-clutch transmission. In 2024, his salary was reduced to €23 million (about 186 million RMB). Considering the company’s net profit plummeted 70% that year, this figure remains quite substantial.