In a significant stride toward fostering a sense of ownership and corporate engagement, Stellantis has introduced its pioneering employee share purchase plan, the “Shares to Win” program. This initiative aims to make employees stakeholders in the esteemed automaker, featuring preferential terms to enhance participation and instill a collective sense of pride.
Stellantis The Shares to Win Program
Under the Shares to Win program, employees in France enjoy the unique benefit of participating with no minimum subscription, while their counterparts in Italy can enter the program with a mere subscription of one share. Adding to the allure, participants across both countries relish a substantial 20% discount on the reference share price, coupled with a generous contribution from Stellantis amounting to 100% of the employee’s personal contribution, capped at €1,000 gross.
Positive Response and Financial Momentum
Already implemented among 85,000 employees in France and Italy, the Shares to Win program has received a resounding response. Xavier Chéreau, Chief HR & Transformation Officer, expressed confidence in the sustainable future of Stellantis and acknowledged the positive feedback from employees. The subscription price, set at €14.52 in both countries, reflects the average closing price of Stellantis shares on the Milano stock exchange between October 12 and November 8, 2023. Notably, between November 13 and November 30, the program witnessed a total investment of approximately €65 million, comprising €47 million from individual investments and an additional €18 million matched by the company. This initial launch resulted in an impressive 4.4 million additional shares held by employees.
Ambitious Expansion and Global Reach
Xavier Chéreau outlined the broader vision, stating, “Our ambition is to ensure that as many of our valuable employees as possible can also become Stellantis shareholders in the near future.” The company plans to extend the Shares to Win program to include 242,000 eligible employees in 18 more countries by 2024, adhering to equivalent incentive principles. Looking ahead, Stellantis envisions a global extension of the program to all countries in which it operates by 2025.
Conclusion
Stellantis’ Shares to Win program not only transforms employees into shareholders but also underscores the company’s commitment to sustainability, value creation, and fostering a collective sense of pride. The program’s success in its initial phase positions it as a model for employee empowerment in the automotive industry.
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SOURCE : TESLARATI
FAQs
What is the Shares to Win program?
The Shares to Win program is Stellantis’ innovative employee share purchase plan, allowing employees to become shareholders with attractive terms, including no minimum subscription in France and a one-share minimum in Italy, accompanied by a 20% discount on the reference share price.
How successful has the program been in France and Italy?
The program has seen considerable success, with 85,000 employees participating in France and Italy. Between November 13 and November 30, the program garnered a total investment of approximately €65 million, resulting in an additional 4.4 million shares held by employees.
What are the future plans for the Shares to Win program?
Stellantis aims to expand the program, including 242,000 eligible employees in 18 more countries by 2024, with equivalent incentive principles. The company plans to extend the program globally to all countries where it operates by 2025.
How does the Shares to Win program contribute to Stellantis’ Dare Forward 2030 strategic plan?
The Shares to Win program aligns with Stellantis’ Dare Forward 2030 strategic plan, which outlines the roadmap to achieve carbon neutrality by 2038. By fostering employee ownership and participation, the program contributes to the overall execution of the strategic plan, creating value for stakeholders and supporting a sustainable future.
Can employees from countries not initially included in the Shares to Win program express interest or participate?
Yes, Stellantis has plans for an ambitious global expansion of the Shares to Win program. While the initial launch targets specific countries, employees from other regions are encouraged to express interest, as the company envisions extending the program to all countries where it operates by 2025.