Fiat Chrysler CEO Marchionne gets EUR31.3 million in pay package in 2014

Article by Christian A., on March 11, 2015

Sergio Marchionne, in his capacity as chief executive of Fiat Chrysler Automobiles, received a pay package valued at EUR31.3 million ($34 million) in 2014, according to a filing with the United States Securities and Exchange Commission. He received EUR2.5 million in salary, EUR4 million in annual incentives as well as other compensation -- bringing his pay package to about EUR6.6 million.

Likewise, non-executive directors green-lighted a one-off cash award of EUR24.7 million to Marchionne to recognize his strategic contribution to the group in 2014, when he was instrumental in the merger of Fiat and Chrysler to create the seventh-larger carmaker in the world.

He will also receive a grant of EUR1.6 million restricted shares, subject to approval by shareholders, as well as a special bonus of EUR12 million that he could only receive when his mandate ends. Marchionne has said he will remain as chief of FCA through the end of a five-year plan, which should culminate in 2018.

He is also credited with shifting the primary listing of the merged FCA to Wall Street in October. He is also the chairman of FCA’s Ferrari unit and CEO of FCA's North American operations. He has plans to spin off Ferrari from the FCA group and sell at least a 10-percent stake in an initial public offering.

Marchionne's five-year industrial plan for FCA entails a EUR48-billion investment through 2018 to turn Jeep, Maserati and Alfa Romeo into global brands that will enable it to compete better against Volkswagen and BMW.

Marchionne already owns about 14.4 million common shares in FCA, with a value of EUR203.3 million at closing price for FCA shares traded in Milan on March 5. Including loyalty shares, Marchionne has a 0.85 percent voting stake, according to Reuters calculations.

If you liked the article, share on:

Pin It

Comments

Recommended

Has Toyota started the production of a new electric supercharger? Well, a patent that was recently published indicated that they might have. And this electric supercharger looks more durable and...
by - March 27, 2017
The Tesla Model S has finally arrived in South Korean soil and is now available for test drive. But, there’s a catch. You’ll have to wait several months if you...
by - March 27, 2017
Sorry to say this to the Sport Quattro Concept fanatics. If you guys have been hoping for the production of this iconic concept to begin, prepare for your dreams to...
by - March 27, 2017
South Korean car company SsangYong recently revealed sketches of their upcoming SUV. We’re not always impressed by Korean car designs, but this one looks quite promising. Yup, it is the...
by - March 26, 2017
Twenty-eight years after the company was first launched by Toyota, which was initially targeted to the United States market only, Lexus has already made its way to over 70 countries....
by - March 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries