New Renault CEO Luca de Meo will be paid nearly 57% more than what his predecessor, Thierry Bollore received from the French carmaker for services rendered.
According to Renault themselves, de Meo will receive a salary package of roughly 5.8 million euros ($6.33 million), with a fixed compensation of 1.3 million euros ($1.42 million) for this year, marking an annual remuneration that can represent up to 150% of the fixed compensation, and 75,000 Renault shares.
Bollore meanwhile was paid 900,000 euros ($982,000), a maximum variable compensation of 125% and 50,000 shares, as reported by Autonews Europe.
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De Meo was appointed Renault CEO at the end of last month, as the French automaker attempts to move forward with finalizing what has certainly been a long-awaited shift in leadership. The former SEAT boss will start work on July 1st.
Once behind a desk, de Meo will be assisted by Renault’s current interim CEO, Clotilde Delbos, who will take on the role of Deputy Chief Executive Officer.
At the time of his hiring, Renault chairman Jean-Dominique Senard had this to say about his company’s new CEO: “Luca de Meo is a great strategist and visionary of a rapidly changing automotive world. His expertise but also his passion for cars make him a real asset for the Group.”
Even Nissan praised the appointment of de Meo last month, with the Japanese carmaker’s president and CEO Makoto Uchita stating that he was “very happy with the Renault Board’s decision to appoint Luca de Meo as CEO. We are all looking forward to working closely with him and our Alliance partners in our efforts to support mutually profitable growth.”
