Jaguar Land Rover boss Ralf Speth's pay jumps to £5.3m

Oliver Gill
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Ralf Speth has been chief executive of Jaguar Land Rover since 2010 (Source: Getty)

Jaguar Land Rover chief executive Ralf Speth pocketed pay totalling £5.3m in the last year.

Speth’s remuneration was split between pay and incentives of £4.4m, up from £3.7m last year, and pension benefits of £873,214. The German’s total compensation jumped by almost a fifth.

Britain’s biggest car maker sold 604,000 vehicles in the year to March. Revenue totalled £24bn, up from £22bn, with profit before tax of £1.6bn.

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Speth's statement in Jaguar’s annual report also cautioned on Brexit.

He said: “We are a British company with global reach.

“Clarity is a prerequisite for business. International competitiveness is paramount for the export industry.

“As the ‘father of economics’, Adam Smith, first defined over 200 years ago, it is free and fair trade, access to the collective knowledge of the best talents globally and removing red tape that leads to greater national prosperity.”

He continued: “The EU is a business opportunity. There is no credible alternative. In the worst case, the export industry will be hit twice and will lose competitiveness.”

Read more: Jaguar Land Rover races to bumper year as revenues top £24bn

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