Ralf Speth, the German CEO of Jaguar Land Rover (JLR) has been will receive compensation this year equal to 4.5 million pounds. The £1.4M pay raise reflects his success in steering Land Rover to a dramatic revival in the last five years.
Speth's remuneration, just now made public in American regulatory filings, was bumped up from around 3.1 million pounds this time last year, according to the 'The Sunday Times.' Speth's 2014-15 pay included about 1.5 million pounds of pension benefits.
The 59-year-old Speth, a 20-year veteran of BMW, took over at JLR in February 2010. JLR’s parent company, Tata Motors, purchased Land Rover over six years ago, when the brand was struggling to make a profit.
Since then, Speth has overseen tremendous growth with expanded factories and many new models. There have been noticeable improvements in build quality and reliability and a shift in branding and marketing strategies that have led to an impressive turnaround for the company.
The company declined to comment on Speth's pay.
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