Sunday, January 31, 2010

£800k plus £15m for Crozier at ITV

If you didn't already know ITV has got a new chief executive,a certain Adam Crozier whose reputation for cost cutting and change is well established at both the Post Office and the FA.

According to the Sunday Times this morning he was lured there by a £15m payday if he can turn round the fortunes of ITV.

Crozier will earn a basic salary just below the £800,000 paid to Michael Grade, his predecessor, but his annual bonus has the potential to be more than double that
. adding

The big incentive is a parcel of shares he will be awarded on arrival. How many he will finally collect depends on the company’s performance over his first three years in the job.
Crozier will be able to pick them up only after another two years at the helm, making 2014 and 2015 the key years in the plan.

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