Macron calls for EU cap on 'shocking' executive remunerations

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French President Emmanuel Macron, campaigning in what many commentators predict will be a tight duel in presidential elections this month against far-right candidate Marine Le Pen, has said he is in favour of an EU-wide ceiling for top executives’ pay after it was revealed that Carlos Tavares, head of French carmaker PSA, was handed 19 million euros in remuneration last year after its merger with Italian-US rival Fiat Chrysler.

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Emmanuel Macron will push for a cap on excessive executive pay should he be re-elected president after he described as “shocking and excessive” the 19-million-euro pay packet handed to the head of carmaker Stellantis, reports The Guardian.