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Jaguar chief’s bumper pay rise

Road show: singer Ellie Goulding at the American launch of the Range Rover Velar in New York
Road show: singer Ellie Goulding at the American launch of the Range Rover Velar in New York

Jaguar Land Rover’s chief executive earned £5.4m in pay and perks last year.

Ralf Speth, the former BMW executive who has run Jaguar since 2010, saw his total package jump by 17% from the previous year.

The German has spearheaded Jaguar’s turnaround from corporate basket case to Britain’s biggest car maker, selling 604,000 vehicles in the year to March 31 and earning profits of £1.6bn. It is working towards a target of selling 1m cars a year.

Speth, 61, earned a salary of almost £4m plus £537,445 in deferred bonuses and £873,214 of pension payments.

In November, Jaguar workers agreed a two-year pay deal, worth 3.5% in the first year plus a £750 bonus for agreeing to less generous pensions.

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