March 14, 2019 / 2:16 PM / 11 days ago

Aston Martin boss' total remuneration stands at 3 million pounds in 2018

Aston Martin Lagonda Ltd. CEO Andrew Palmer addresses media during the first press day ahead of the 85th International Motor Show in Geneva March 3, 2015. REUTERS/Arnd Wiegmann

LONDON (Reuters) - The total remuneration for the boss of luxury carmaker Aston Martin stood at 3 million pounds in 2018, according to the firm’s annual report.

Chief Executive Andy Palmer’s 2018 salary was 1.2 million pounds which in addition to benefits, his pension and annual bonus takes the total remuneration to 3.02 million pounds.

His salary will not rise until January 2022, the central English firm said its in annual report, confirming a promise outlined in the company’s prospectus.

Aston Martin’s initial public offering took place in October at a price of 19 pounds ($25) per share but has since fallen by more than a third.

Reporting by Costas Pitas; editing by James Davey

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