Jaguar chief's salary nosedives after JLR reports record losses

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Compensation of the CEO of Jaguar Land Rover Ralf Speth contracted by 21 percent during FY19 after the Tata Motors-owned British carmaker posted a loss of 3.3 billion pounds (approx Rs 29,000 crore).

Speth took home Rs 31.82 crore last year, down from Rs 40.08 crore for FY18. The payout does not include encashable leave and gratuity, according to details given in the 74th annual report of Tata Motors.

Only two years ago, Tata Group Chairman N Chandrasekaran had to field questions from irate shareholders of Tata Motors over the Rs 57 crore pay package awarded to Speth. Even in that year, Tata Motors had recorded losses.

A prolonged and sharper than expected fall in volumes in China, the once biggest market for JLR, and the inability of the two Brit brands to arrest the fall, which has been greater than rivals like Mercedes-Benz, BMW and Audi, has led to widening of losses at Tata Motors.

Other equally bigger concerns including Brexit impact, fall in popularity of diesel options, steeper emission regulations and swifter switch to electric mobility have raised doubts over Tata Motors commitment of returning to profitability.

JLR posted a loss after tax of 3.3 billion Pound fir FY19 down from a profit of 1.1 billion Pound reported in FY18. Revenue too was down to 24.2 billion Pound, a fall of 6.9 percent during FY19 from 25.8 billion Pound posted during FY18.

Speth's counterpart at Tata Motors Guenter Butschek also saw a dip in pay package, however to a much lesser extent. Known as the turnaround specialist, Butschek drew home Rs 26.32 crore during FY19, lower by 0.37 percent compared to Rs 26.42 crore of FY18.

On the back of new model launches in both passenger and commercial vehicle categories and helped by cost cutting measures Tata Motors swung back to profits during FY19.

The company closed with profit after tax of Rs 2020 crore as against Rs 1034 crore loss recorded in FY18. Revenues were up by 18 percent to Rs 69,202 crore during FY19 as against Rs 58,689 crore during FY18.