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Bumper pay deal for ITV chief after profits soar

By Staff Reporter

Published 18/03/2016

ITV boss Adam Crozier was awarded a £4m pay packet in 2015 after the group notched up its sixth year of double-digit profit growth in a row
ITV boss Adam Crozier was awarded a £4m pay packet in 2015 after the group notched up its sixth year of double-digit profit growth in a row

ITV boss Adam Crozier was awarded a £4m pay packet in 2015 after the group notched up its sixth year of double-digit profit growth in a row.

The broadcaster's annual report showed Mr Crozier was handed a cash-and-deferred shares bonus worth £1.6m - a 4% rise on 2014 - on top of a 2% increase in his annual salary to £918,000.

Just last month, ITV's £100m deal to buy UTV's television was finally completed.

UTV and UTV Ireland's 250 staff are now part of ITV's global television business, while managing director Michael Wilson has remained at the helm of the Ireland business.

Mr Crozier was awarded a potential £2.1m worth of new shares under the long-term incentive plan, which will come to fruition in three years subject to performance targets being met.

His bumper pay deal comes after the group recently reported an 18% rise in annual underlying pre-tax profits to £843m, despite a 3% drop in audience to 21.2% in 2015.

The broadcaster - which is home to shows including Downton Abbey and The X Factor - gave a bullish outlook for the year ahead as it said the Euro 2016 football championship would lift business.

ITV also recently appointed Sir Peter Bazalgette - the man credited with bringing Big Brother to UK screens - as its next chairman.

He will succeed Archie Norman, who is stepping down after more than six years in the role.

Sir Peter will take over following ITV's annual shareholder meeting on May 12.

Belfast Telegraph

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