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Advertising recovery sees ITV's Crozier net £1.7m in eight months

Adam Crozier pocketed close to £1.7m for eight months’ work as ITV reaped the rewards of the advertising recovery last year.

The broadcaster’s chief executive collected £1.2m immediately according to the annual report, with a basic salary being £532,000, a one-off payment on arrival measuring £334,000, and £252,000 in short-term bonuses. A further £505,000 of short-term bonuses has been deferred in shares for three years.

Crozier was awarded 95% of maximum bonuses after profits trebled to £324m for the year.

A free award of four million nil-cost share options sees him a further £1m richer on paper.

It has been estimated Crozier could earn as much as £18m over the next five years if he hits all performance targets after a review decided he can now earn as much as 180% of salary in short-term incentives rather than 150%.

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