Aston Martin under fire over bosses’ pay

Aston Martin is under pressure from investors over big pay rises for top executives, despite ongoing losses and a falling share price.

The voting advisory service ISS has recommended shareholders vote against both the Warwickshire-based luxury carmaker’s pay policy and annual pay report at next Wednesday’s AGM.

ISS flagged a mismatch between generous executive payouts and shareholder “experience” over the past year.

Adrian Hallmark, the company’s new CEO, was appointed on a salary that ISS said carries a “material premium” to his predecessor, a move the group described as striking given Aston Martin’s market position.

Finance chief Doug Lafferty also received a “substantial” salary hike that ISS said lacked a “cogent rationale.”

Aston Martin has faced persistent losses and mounting debt since its 2018 stock market debut, triggering multiple equity raises and job cuts.

Its share price has nearly halved in the past year, bringing its market value to just over £660m.

The company recently reported a smaller-than-expected first-quarter loss and reaffirmed its full-year forecast.

It also announced plans to limit exports to the US in response to new tariffs introduced under former President Trump’s policies.

Despite the recommendations from ISS, the votes are widely expected to pass, largely due to chairman Lawrence Stroll’s 33% stake in the company.