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Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.

Here's the first production Ferrari Sergio, and it's already been delivered

Not even three months after its production announcement, Ferrari has already delivered the first Sergio, a wildly modified 458 Spider meant to honor Sergio Pininfarina, founder of the eponymous design studio that has turned out so many memorable prancing horses. Unsurprisingly, the roofless Ferrari, the first of six, was delivered to the Middle East, going to the SBH Royal Auto Gallery in the United Arab Emirates' capital, Abu Dhabi. Ferrari handed over the keys at the Yas Marina Circuit, which is currently playing host to the Finali Mondiali Ferrari, the same place the FXX K debuted earlier this week. With a 605-horsepower, 4.5-liter V8, the Sergio can hit 60 miles per hour in just three seconds, although this particular Ferrari is about a lot more than performance. The Pininfarina styling is the real focus here, giving a few lucky owners the opportunity to enjoy concept-car styling in a road-legal machine. Unlike the original Sergio, that debuted at the 2013 Geneva Motor Show, though, the production model is somewhat tamer. Blame the necessity that is the windshield. That, though is the most significant change in evidence. All the very best parts of the concept car have seemingly made it through to production, including the lovely forward-swept rollbar and the stylish black element that defines the profile. Take a look up top for the official images from Ferrari, and then scroll below for Maranello's press release. The first Ferrari Sergio arrives in the UAE Abu Dhabi, 5th December 2014 – The first Ferrari Sergio has arrived in the United Arab Emirates. It has been delivered today to its new owner, the SBH Royal Auto Gallery in the UAE, at Abu Dhabi's Yas Marina Circuit, where the Finali Mondiali Ferrari are being staged and which is home to the Ferrari World theme park. Designed by Pininfarina, just six of this incredibly limited edition roadster are being built. The car was created to celebrate the spirit and core values of the historic Cambiano company in the 60th anniversary year of its collaboration with the Prancing Horse. Needless to say, Sergio was the only possible choice of name for the model, in homage to great Sergio Pininfarina, who sealed the unique, longstanding partnership with Ferrari. The Ferrari Sergio is a genuinely radical car. It is both exclusive and spare in the sense that every single element aboard is focused entirely on performance.

Race Recap: 2014 Australian Grand Prix quietly opens the new F1 era [spoilers]

The first chapter of the new Formula One era has been written with the conclusion of the Australian Grand Prix, and it included a rookie rush, some resurgent and some unsurprising performances, the sound of screeching tires and a couple of firsts.
Outside predictions as to the pace of the Mercedes AMG Petronas team were proved as soon as the Friday practice sessions, with Lewis Hamilton recovering from an engine sensor fault in the first session to top the second, followed by teammate Nico Rosberg. That didn't change come the start of qualifying, not even the rain slowing down the Silver Arrows, Hamilton taking pole as the last man across the line in Q3.
The surprises were in the order behind him, with new Infiniti Red Bull Racing man Daniel Ricciardo grabbing second spot just three-tenths of a second down on Hamilton. Ricciardo not only looked like he belonged at the front of the grid the entire weekend, but he seems to have reversed the Mark Webber jinx: four-time World Champion Sebastian Vettel had car issues and didn't get into Q3, having to settle for 13th on the grid.