Stellantis – the automaker formerly known as Fiat Chrysler – posted record revenues and profits in 2023. At the time of the reporting, CEO Carlos Tavares said he wanted to “warmly thank” the Stellantis team for “contributing greatly to [the company’s] growth story, even in the strongest of headwinds.”

It appears the Board at Stellantis has found a way to also warmly thank Tavares himself and it takes the form of a massive pay hike.