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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.

2019 Jeep Cherokee revealed | All-new engine, refreshing new face

When the Jeep Cherokee made a return in late 2013 as a replacement for the boxy Jeep Liberty, reactions were mixed on the crossover's styling. Sure, all the Jeep hallmarks were there — seven-slot grille, squared fenders, etc. — but something seemed different, especially with that face. Well, the course has been corrected and at this week's Detroit Auto Show, the 2019 Jeep Cherokee shows off its much more conventional and conservative styling. This is just a mid-cycle refresh, so it doesn't look all that much different than the current KL Cherokee. Jeep ditched the split lighting on the current model, pushing the driving lights and headlights back together and in a much more traditional position. Unsurprisingly, its very similar to what you'll find on the current Jeep Grand Cherokee and Jeep Compass. In addition to the new LED headlamps, the driving lights and fog lamps get a new design. The rear end, too, gets a heavy redesign. The taillamps now have LED accents, though the overall shape is generally the same. A new tailgate now houses the license plate, making the Cherokee look less bottom heavy. Along the bottom, Overland models get chrome tow hooks while Trailhawk models get the now recognizable bright red hooks. The Trailhawk also gets a resculpted front bumper for a better approach angle on the trails. Other Trailhawk goodies include skid plates, bigger fender flares, an increased ride height and 17-inch wheels with off-road tires. There are five new wheel offerings in total, including a 19-inch design for the Overland trim. In contrast to the outside, the Cherokee's interior carries over nearly unchanged. From behind the wheel, you'd be hard pressed to spot a difference between the old and new. There are some new piano-black trim pieces around the infotainment screen and matte silver trim around the air vents and steering wheel. The center console does get a slight redesign, moving the USB port and 115-volt outlet rearward to create a bit more storage space. The biggest change is in the cargo area where three extra inches of width give the Cherokee 27 cubic feet of cargo space. Underneath the hood, you'll find one of three powertrains, including a new 2.0-liter turbocharged inline-four. That engine joins the 271 horsepower 3.2-liter Pentastar V6 and the 180 horsepower 2.4-liter Tigershark inline-four. All three engines are paired with a refreshed nine-speed automatic sending power to either the front or all-four wheels.

U.S. asks Mexico to probe whether Stellantis parts plant abused labor rights

MEXICO CITY and WASHINGTON — The United States has asked Mexico to probe alleged worker rights violations at an auto-parts plant owned by Italian-French carmaker Stellantis, the fourth such complaint under a revised trade deal, U.S. officials said on Monday. The U.S. request for Mexico to examine possible abuses at Teksid Hierro de Mexico in the northern border state of Coahuila comes under the 2020 United States-Mexico-Canada Agreement (USMCA). Teksid, which employs nearly 1,500 people and makes iron castings for heavy vehicles, has been embroiled in a union dispute since 2014. Workers say the company has blocked them from being represented by the group of their choice, the Miners Union, and that it dismissed workers who backed the group. The U.S. Trade Representative's (USTR) office said in the request it was concerned workers had been denied collective bargaining rights in connection with an "invalid" contract with the Confederation of Mexican Workers (CTM), one of Mexico's most powerful unions, that had been registered with state authorities. The office asked Mexico to investigate if efforts had been made, including threats and incentives, to encourage backing for CTM or to dissuade support for the Miners Union. Labor disputes in Mexico have long featured intimidation tactics by powerful unions cozier with employers and governments than workers. Under the USMCA, the trade pact that replaced NAFTA, factories that violate worker rights could lose their tariff-free status. Companies have been watching how the tougher labor rules will play out. Stellantis, the world's fourth-largest auto group which formed from the merger of Peugeot maker PSA and Fiat Chrysler, said it "respects and supports the collective bargaining rights of its employees around the world and will comply with all local laws in that regard." The United Auto Workers union, which represents U.S. Stellantis workers, along with the AFL-CIO labor federation and the Miners Union, flagged the potential violations, the USTR's office said. Teksid, CTM and the local Conciliation and Arbitration Board should be included in the review, it added. CTM did not immediately respond to a request for comment. The union's leader in Coahuila, Tereso Medina, recently told Mexican newspaper El Economista the union would abide by the USMCA and that the conflict should be resolved with a workers' vote. Mexico's federal labor center in May said the Miners Union held the only valid contract.