ITV boss Adam Crozier bags £8.4m pay

The former FA and Royal Mail boss and self-confessed 'control freak' is no stranger to huge pay outs.

by Rachel Savage
Last Updated: 14 May 2015

- Read MT’s interview with Adam Crozier

Executive pay is a perennial bugbear for shareholders and aggrieved lower paid workers alike. Nonetheless, the art of the turnaround is not an easy one and chief execs that bring in the bacon are continuing to be shown the money.

ITV chief exec Adam Crozier is the latest FTSE 100 boss to see his pay packet swell, netting £8.4m in 2013, up from £2.9m last year. Almost £4m of that was a share-based joining award that has swelled as Crozier has turned around the broadcaster.

The company said the pay ‘reflects the outstanding performance to date and a significant increase in share price’. They have a point – shares have risen more than 200% since Crozier took the helm and the broadcaster reported a 27% rise in adjusted pre-tax profits last year.

However, ITV’s rivals BT and BSkyB paid their chief execs a comparatively paltry, but still juicy, £2.4m and £2.9m respectively in their most recent financial years. Even fellow turnaround scion, easyJet boss Carolyn McCall, ‘only’ got £6.4m last year, up from £3.7m in 2012.

It’s not the first time Crozier has bagged an apparently huge payout either – he got £3.5m in 2010 when he left Royal Mail, well before it was privatised last year. Looks like there’s nothing the self-confessed ‘control freak’ likes being in control of more than his pay packet

ITV’s AGM is in May, so it’ll be a while before we see whether the broadcaster’s shareholders stage an X Factor-style shock, a la Aviva and Citi investors’ pay revolts back in 2012.

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