Aston Martin is steering a path in the direction of a twin-pronged pay row with shareholders because it grapples with the impression of President Trump’s tariffs on automobile producers.
Sky Information can reveal that the influential proxy voting adviser ISS is urging traders to vote in opposition to each of Aston Martin Lagonda World Holdings’ remuneration votes at subsequent week’s annual normal assembly.
The pay coverage vote, which is binding on the corporate, has attracted opposition from ISS as a result of it proposes vital will increase to potential bonus awards to Adrian Hallmark, the corporate’s new chief govt.
“Concerns are raised regarding the increased bonus maximums, which are built upon competitively[1]positioned salary levels and do not appear appropriate given the company’s recent performance,” ISS mentioned in a report back to purchasers.
Aston Martin can also be dealing with a significant vote in opposition to its pay report for final 12 months – which is on an advisory foundation solely – due to the salaries awarded to Mr Hallmark and different govt administrators.
The corporate’s shares have almost halved within the final 12 months, and it now has a market worth of little greater than £660m.
Regardless of the ISS advice, Aston Martin will win the vote by advantage of chairman Lawrence Stroll’s 33% shareholding.
The posh automobile producer has had a torrid time as a public firm and now faces the headwinds of President Trump’s tariffs blitz.
This week it mentioned it could restrict exports to the US to offset the impression of the coverage.
Aston Martin didn’t reply to a request for remark forward of subsequent Wednesday’s AGM.
