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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.

Samsung Galaxy Note 7 disaster endangers FCA's Magneti Marelli sale

Samsung's financial and public relations positions are going up faster than one of the company's Galaxy Note 7 smartphones, and that's bad news for Fiat Chrysler. FCA was in talks with the South Korean tech giant to sell all or a portion of Magneti Marelli, the enormous Italian parts supplier. The deal, estimated to be in the $3 billion range, was a big part of FCA CEO Sergio Marchionne's five-year plan to slash his company's ˆ5.5 billion ($6.07 billion at today's rates) debt. But Samsung's flaming phones may have stalled the deal, Automotive News reports. Samsung was hoping to acquire all or part of Magneti to gain access to its lighting, in-car entertainment, and telematics business, all in a bid to reduce its reliance on occasionally explosive consumer electronics, AN's sources report. This week alone, Samsung permanently ended production of the Note 7 and began recalling millions of devices, sending out flame-proof return boxes so owners can ship the device back in relative safety. The disaster has already caused Samsung to slash its third-quarter operating profit by $2.3 billion, and is leading the company to divert its attention away from big, blockbuster deals, people "who asked not to be identified because the negotiations are private" told AN. According to the same sources, the two sides haven't even agreed on a valuation for Magneti Marelli. Neither company was willing to comment on the potential sale. Related Video: News Source: Automotive News - sub. req.Image Credit: Andrew Zuis / AP Chrysler Fiat Technology Smartphone Sergio Marchionne FCA Samsung

FCA adds Apple CarPlay and Android Auto to Uconnect

Fiat Chrysler Automobiles has three showcases ready for this week's Consumer Electronics Show. The spotlight reveal is a "glimpse" of the fourth-generation Uconnect system, which now gets Apple CarPlay and Google's Android Auto. They lead the advances due to be rolled out this year, which include beefier internals for faster startup and processing, the next evolution of the Uconnect navigation system, capacitive touchscreens, and higher resolution screens. Going beyond the vehicle, a concept display will present solutions to help drivers achieve "Car. Life. Balance." That means, as we've heard before, a car that knows what you want before you realized you wanted it via monitoring your driving habits, communicating with other vehicles and traffic infrastructure, and prioritizing information in certain situations to keep the driver from being overwhelmed. A Waze-like community of road knowledge is also on the menu, and it allows for tagging of tag street conditions to inform other vehicles, and a follow-me mode where people can "request to follow other vehicles." Government types will want to scope out the 2016 Dodge Charger Pursuit with an exclusive Uconnect system boasting a 12.1-inch screen and enhanced resolution that can speak to the officer's mobile computer. Have a read of the press release below for more details. FCA Announces New Fourth-Generation Uconnect® Systems at 2016 Consumer Electronics Show in Las VegasLatest technology advancements help provide Car. Life. Balance.• Uconnect team announces fourth-generation Uconnect systems featuring improved performance; Apple CarPlay and Android Auto™ will be available globally in select models during 2016• CES attendees will experience a digital technology concept display that explores future intelligent transportation• FCA exhibit to feature concept brought to reality, the Uconnect 12.1-inch built-in touchscreen that enables integration of law enforcement computer systems with the industry standard Uconnect touchscreen systemJanuary 4, 2016 - Fiat Chrysler Automobiles N.V. and its subsidiary FCA US LLC are heading to the 2016 Consumer Electronics Show (CES) in Las Vegas with a display featuring the latest technology advancements in FCA vehicles and will provide a glimpse of the new fourth-generation Uconnect system featuring Apple CarPlay and Android Auto."The Uconnect team is evolving Uconnect and making it even better," said Joni Christensen, Head of Uconnect Marketing, FCA US LLC.