ITV's new boss Adam Crozier could collect 16.8m

[POSTMAN]

http://www.thisislondon.co.uk/standard- ... nd-113m.do" onclick="window.open(this.href);return false;

ITV today announced that new chief executive Adam Crozier could receive a package worth as much as £11.3 million over the next three years.

His predecessor Michael Grade is leaving the broadcaster with £2.7 million, including a 141% bonus for last year, despite operating profits tumbling in 2009.

Crozier, who will join ITV from Royal Mail, will earn a basic salary of £775,000, plus pension contribution of £69,750, as well as a golden hello of £200,000 in cash and £420,000 in shares.

He is guaranteed to earn £3.2 million by 2013 but he will also be handed 4.1 million shares, worth nearly £2.3 million at today's prices, that he will collect if he hits performance targets in the next three years.

He could also earn short-term bonuses for the next three years worth up to 150% of salary, or £3.5 million, and long-term incentives in 2011 and 2012, also based on 150% of salary, worth £2.3 million.

ITV insisted that Crozier's bonus targets “will be stretching” and the broadcaster must perform better than 75% of rival companies.

Grade earned an £825,000 salary and £1.2 million bonus and benefits last year, plus £167,000 notice period. He is also in line for 800,000 shares, worth £400,000, in December.

[POSTMAN]

[DirtyHarry]

There's only one thing that Crozier should be getting, a small plot of land, 6ft by 3ft, 6ft deep. :cfo

[Straight4ward]

a small plot of land, 6ft by 3ft, 6ft deep

That's a big hole for a worm, isn't it?

[Straight4ward]

Can someone please explain to me why is it considered necessary to reward failure at director/senior management level, yet the same set of results bring job losses and pay cuts for the workforce?

Grade, having presided over a 2.7billion loss, leaves his cushy little number at ITV £2.7 million richer while 600 of his workers lose their jobs.

Crozier, having been in charge when we missed all our delivery targets for the last year, leaves Royal Mail with a cool £2 million in his back pocket, while jobs are to be shed in their thousands.

Greed is good a la Gordon Gecko perhaps? I am old enough to know that this goes on all the time, and I'm not naive enough to believe in a just world, but that still doesn’t make it any easier to swallow.

[POSTMAN]

It gets worse!!

http://business.timesonline.co.uk/tol/b ... 067283.ece" onclick="window.open(this.href);return false;

ITV's new chief executive will pocket £16.8 million if he hits all his performance targets by 2015, according to the broadcaster's annual report released today.

Adam Crozier is guaranteed £3.2 million over the next three years, including a £625,000 "golden hello" in cash and shares when he joins ITV on April 26. The payment is intended as compensation for Mr Crozier, who will lose his his bonus as chief executive at Royal Mail.

[Jolly Roger]

a small plot of land, 6ft by 3ft, 6ft deep

That's a big hole for a worm, isn't it?

Spat my coffee out when i read that nice one mate ..

[TrueBlueTerrier]

a small plot of land, 6ft by 3ft, 6ft deep

That's a big hole for a worm, isn't it?

Spat my coffee out when i read that nice one mate ..

just for you jolly roger

[DirtyHarry]

a small plot of land, 6ft by 3ft, 6ft deep

That's a big hole for a worm, isn't it?

True.

Perhaps, I'm getting soft in my old age, but I often use what's called a term of endearment for Crozier, filthy Maggot. I know, I know, I'm a soft get, you don't have to tell me.

[k979aaa]

a small plot of land, 6ft by 3ft, 6ft deep

That's a big hole for a worm, isn't it?

True.

Perhaps, I'm getting soft in my old age, but I often use what's called a term of endearment for Crozier, filthy Maggot. I know, I know, I'm a soft get, you don't have to tell me.

MAGGOT'S serve a purpose while parasites do not :cfo