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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.

Project Trail Force Jeep Wrangler goes to SEMA, then to a lucky winner

Extreme Terrain is an aftermarket parts company focused on the Jeep Wrangler. Partly just because it's a really cool thing to do, and probably having something to do with Jeep's upcoming 75th anniversary, Extreme Terrain found some dance partners to help work up a special 2015 Wrangler Rubicon that it will show off at the Bantam Jeep Heritage Festival in Butler, PA, then at SEMA in November, where it will be given away. Extreme worked with Barricade Off-Road and Kevin Tetz from the Spike show Trucks! to build the Wrangler it calls Project Trail Force. There is more than $24,000 worth of aftermarket gear on it, starting with the Ripp centrifugal supercharger that pumps an additional 140 horsepower into the 3.6-liter V6. It's got a 3.5-inch lift kit from Rock Krawler, Dana 44 axles strung between 37-inch BFG tires, Barricade bumpers, a 9,500-pound winch, fender flares, rock sliders, a 50-inch LED light bar above the windshield, LED spotlights on the A-pillars, and seven-inch KC Hilites headlights. Rugged Ridge worked over the inside with upgrades like all-terrain floor and cargo liners, plus seat covers, and a new navigation system with a back-up camera. If you want to win it, you can enter the contest at Extreme Terrain once every week until Oct. 23. The winner gets flown to SEMA to have Kevin Tetz hand the keys over. If you just want to see it, you can head to PA for that heritage festival. The Project Trail Force will also lead a Jeep parade that could set a Guinness World Record. The press release below has a lot more info on the build. Good luck. EXTREMETERRAIN AND BARRICADE OFF-ROAD TO UNVEIL THEIR FULLY-BUILT 2015 JEEP WRANGLER AT BANTAM JEEP FESTIVAL ExtremeTerrain.com and Barricade Off-Road teamed up to build a $73,000+ 2015 Jeep Wrangler Rubicon to be given away to a lucky winner at the 2015 SEMA Show • Giveaway Link: http://www.extremeterrain.com/jeep-wrangler-project-trailforce-giveaway.html • Video: https://www.youtube.com/watch?v=jsO6fxVq6kI MALVERN, Pa. (June 12, 2015) – ExtremeTerrain, a leader in providing aftermarket Jeep Wrangler parts, along with rugged, enthusiast-driven Jeep Wrangler aftermarket armor and accessories manufacturer Barricade Off-Road, today unveiled a fully-built 2015 Jeep Wrangler Rubicon dubbed Project Trail Force at the Bantam Jeep Heritage Festival in Butler, PA.

Ram, Jeep redesigns on hold, Alfa Romeo models may come sooner

Last summer, FCA outlined an ambitious five-year plan that sketched out the company's product intentions for each of its brands through the end of 2018. However, even the best strategies sometimes need tweaking. According to Reuters after speaking with unnamed people at auto suppliers, FCA is now possibly delaying at least a dozen projects in North America for a variety of reasons. From vehicle to vehicle, these postponements allegedly last anywhere from just a few months to over a year. The sources from the suppliers claim that in some cases these tweaks are for engineering and design changes. The next-gen Ram 1500 reportedly has among the shorter delays and is being pushed from mid-2017 to November 2017, according to Reuters. Also, the much-discussed future Jeep Wrangler is allegedly moving a little later to July 2017. Among the vehicles purportedly seeing longer delays, the next-gen Grand Cherokee could get pushed back about a year to 2018. That then forces the launch of the three-row, luxury Grand Wagoneer to be even further away. Jeep's upcoming C-segment CUV and the all-new Chrysler 300, Dodge Charger, and Challenger might also see postponements. The one brand allegedly seeing an accelerated plan is Alfa Romeo. Without going into detail, the sources from these suppliers claim that the Italian automaker is getting even more vehicles for its lineup and could get them even faster than planned. "Those plans need to be flexible and fluid, with the potential to add some vehicles, pull some forward and extend the life cycle of others," FCA said to Reuters about all of these allegations. "We look at these programs on a vehicle-by-vehicle basis." Investment in the auto industry has been a major topic for FCA CEO Sergio Marchionne as of late. He believes consolidation is necessary so that companies aren't burning money on the same projects. Related Video: News Source: ReutersImage Credit: Bill Pugliano / Getty Images Plants/Manufacturing Alfa Romeo Chrysler Dodge Fiat Jeep RAM Sergio Marchionne FCA fca us