Crozier paid £2.4m in final year at Royal Mail
The former chief executive of Royal Mail was paid almost £2.5 million in his final year at the postal group, it was revealed today.
Adam Crozier, who left to join ITV, received a bonus of £1.5 million, salary of £633,000, a cash supplement in lieu of a pension of £206,000 and other benefits worth £19,000.
The Royal Mail said the bonus was under a three-year long-term incentive plan.
His total pay and benefits in the financial year to March was £2.42 million.
Alan Cook, the former managing director of the Post Office, received £1.25 million, while Royal Mail letters managing director Mark Higson was paid £1.73 million.
Finance director Ian Duncan was paid almost £1.4 million, figures in today's annual report showed.
Donald Brydon, chairman of Royal Mail Group, said: "These directors are running a business with a turnover in excess of £9 billion in a tough marketplace and Royal Mail needs to be able to attract from the commercial market the best management talent."
Dave Ward, deputy general secretary of the Communication Workers Union, said: "Postal workers will be outraged by news of Crozier's salary and bonus.
"Adam Crozier's bonus came after a year in which he oversaw a national postal strike, lost the confidence of his workforce and then left before the job of modernisation and business transformation agreement was complete.
"Postal workers will be equally horrified at the pay given to other senior executives."
Mr Ward added: "Adam Crozier's pension will be the envy of postal workers whose own, much smaller, pension pots are at risk."
- 2 Porn block in India: hundreds of sexual websites banned, internet outraged
- 4 Dutch King Willem-Alexander declares the end of the welfare state
- 5 Gamers confess the worst things they've done in The Sims
Jackie Chan in second place in Forbes' Highest Paid Actors list after magazine includes actors working outside US movie industry
Malaysia issues arrest warrant for Gordon Brown’s sister-in-law after she publishes stories on leader Najib Razak's financial affairs
Natalia Molchanova: World's most successful free-driver is missing and feared dead after disappearing in Mediterranean
Giant Minion terrorises drivers in Ireland as 40ft inflatable blocks traffic on Dublin road
Dutch King Willem-Alexander declares the end of the welfare state
Is Britain really full up? Are migrants taking our jobs? Leading academic answers the most common anti-immigration claims
Calais Migrant Crisis: Deputy Mayor of Calais labels Cameron's use of 'swarm' as 'racist' and 'ignorant'
Chris Leslie: Jeremy Corbyn's anti-austerity agenda will harm the poor, says Labour shadow Chancellor
Landlords renting properties to illegal immigrants to face up to five years in prison
While we fixate on Calais, the Home Office is quietly deporting dozens of migrants on 'ghost flights'
Labour leadership race: Jeremy Corbyn could be the next Prime Minister, says Ken Clarke
iJobs Money & Business
£35 - £50k DOE: Guru Careers: A Tax Manager / Accountant (ACA / CA / CTA) is n...
£35000 - £37000 per annum + benefits: Ashdown Group: Contracts Executive - Cit...
£20000 - £25000 per annum + OTE £45K: SThree: SThree Group have been well esta...
£21000 per annum: Recruitment Genius: This is an exciting opportunity to join ...