£4m for boss who quit Rio Tinto

Rio Tinto's former chief executive Tom Albanese saw his total pay, bonus and benefits jump by nearly 10 per cent in 2012, despite a $14.4bn (£9.5bn) writedown which led to his resignation.

Mr Albanese's total payout rose by 9.5 per cent to £4.36m last year, despite forgoing a "short- term" bonus, as the value of his long-term bonus awards increased from £1.4m to £1.7m. His pension payments increased to £1.3m. The new CEO Sam Walsh, who took over in January, saw his total remuneration rise to £4.6m.