<p class="title">French carmaker Renault will grant its new chief executive, Luca de Meo, a pay package of around 5.8 million euros ($6.33 million), which is an increase of nearly 57 percent of what his predecessor was awarded last year.</p>.<p class="bodytext">According to company files released on Monday, de Meo, a former Volkswagen's Seat brand executive, will this year receive a fixed compensation of 1.3 million euros, an annual variable remuneration that can amount up to 150 percent of the fixed compensation and 75,000 Renault shares.</p>.<p class="bodytext">His predecessor, Thierry Bollore, was granted, respectively, 900,000 euros, a maximum variable compensation of 125 percent and 50,000 shares.</p>.<p class="bodytext">Renault named Luca de Meo, who will start on July 1, at the end of last month, as the car maker looks to draw a line under a year of turmoil by finalising a long-awaited management shake-up.</p>.<p class="bodytext">($1 = 0.9164 euros)</p>
<p class="title">French carmaker Renault will grant its new chief executive, Luca de Meo, a pay package of around 5.8 million euros ($6.33 million), which is an increase of nearly 57 percent of what his predecessor was awarded last year.</p>.<p class="bodytext">According to company files released on Monday, de Meo, a former Volkswagen's Seat brand executive, will this year receive a fixed compensation of 1.3 million euros, an annual variable remuneration that can amount up to 150 percent of the fixed compensation and 75,000 Renault shares.</p>.<p class="bodytext">His predecessor, Thierry Bollore, was granted, respectively, 900,000 euros, a maximum variable compensation of 125 percent and 50,000 shares.</p>.<p class="bodytext">Renault named Luca de Meo, who will start on July 1, at the end of last month, as the car maker looks to draw a line under a year of turmoil by finalising a long-awaited management shake-up.</p>.<p class="bodytext">($1 = 0.9164 euros)</p>