Aston Martin set to boost executive pay to attract top talent

Aston Martin is set to boost executive pay in an effort to attract and retain top industry talent after struggling with competitive compensation in recent years.

The luxury carmaker, headquartered in Warwickshire, plans to raise the bonus potential for its CEO and CFO from 200% to 250% of their base salaries.

While this exceeds the standard bonus offering within the FTSE 250, the luxury car manufacturer argues it remains competitive in the global luxury sector and below the highest levels seen among automotive peers.

CEO Adrian Hallmark, who joined Aston Martin in September after leading Bentley, received a £1m package for his initial months, including a £333,000 salary, a £600,000 bonus, plus benefits and pension.

A spokesperson from Aston Martin told TheBusinessDesk.com: “Adrian is widely regarded as one of the highest calibre leaders in the global automotive industry and brings to Aston Martin unrivalled experience in both the ultra-luxury and British manufacturing sectors. Adrian’s expertise will be invaluable as we continue the transformation of the business and deliver the next phase of sustainably profitable, long-term growth.

“The Committee recognises that the CEO and CFO salaries appear high in a UK FTSE 250 context and continues to benchmark remuneration against global automotive and luxury companies, as these are the most relevant peers.”

Aston Martin acknowledges that its previous pay structure made it difficult to recruit top talent.

To address this, increased bonuses will be tied to strict performance targets, ensuring that maximum payouts are only achieved with outstanding results.

A new long-term incentive plan has also been proposed, combining performance-based share awards with restricted shares to align with the company’s business strategy.

The company has said: “Pay levels are considered justified given the need to attract exceptional leaders, deliver strategic objectives, and drive Aston Martin’s transformation.”

No salary increases will be applied in 2025.