Advertising recovery sees ITV's Crozier net £1.7m in eight months
Advertising recovery sees ITV's Crozier net £1.7m in eightAdam Crozier pocketed close to £1.7m for eight months’ work as ITV reaped the rewards of the advertising recovery last year.
The broadcaster’s chief executive collected £1.2m immediately according to the annual report, with a basic salary being £532,000, a one-off payment on arrival measuring £334,000, and £252,000 in short-term bonuses. A further £505,000 of short-term bonuses has been deferred in shares for three years.
Crozier was awarded 95% of maximum bonuses after profits trebled to £324m for the year.
A free award of four million nil-cost share options sees him a further £1m richer on paper.
It has been estimated Crozier could earn as much as £18m over the next five years if he hits all performance targets after a review decided he can now earn as much as 180% of salary in short-term incentives rather than 150%.
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comments
Performance based bonuses like this are great and well deserved and would be applauded by the public - while bonuses for those in the banking sector would not be seen in the same positive light. Although I do believe performance should be rewarded, perhaps it is the fact that banks had to rely on the taxpayer for a bailout that makes the idea so unpalatable.
I appreciate I'm kinda getting off topic here, but I'd also mention the Robin Hood Tax as an idea that needs more consideration: http://robinhoodtax.org/
Performance should be rewarded, except in cases where it is detrimental to the greater public society.
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