March 14, 2019 / 2:37 PM / 12 days ago

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

Aston Martin CEO Andy Palmer poses with the display model of a AM-RB 001 ahead of the 2017 Canadian International Autoshow where the company and Red Bull Racing reveal the $3 million Aston Martin AM-RB 001 hypercar in Toronto, Ontario, Canada, February 15, 2017. REUTERS/Peter Power/File Photo

LONDON (Reuters) - The total remuneration for the boss of luxury carmaker Aston Martin stood at 3 million pounds ($4 million) 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.

($1 = 0.7568 pounds)

Reporting by Costas Pitas; editing by James Davey

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