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Is Adam Crozier worth £16 million?

Adam Crozier, the chief executive of the Royal Mail, has been revealed as the ITV board's choice for the role of Chief Executive. While many eyebrows have been raised about the forthcoming appointment of Adam Crozier, whose record at the Royal Mail is chequered to say the least, it has also been revealed that he is in talks about a potential five-year pay deal worth in the region of £16 million.

There is every chance that the ITV board could be subject to significant shareholder retaliation at the potential appointment of Adam Crozier and his rumoured £16 million contract. Even though his successes at the Royal Mail have been overshadowed by ongoing industrial action and significant friction between management and unions, he has made few friends at the Royal Mail with his management style.

Even though the larger shareholders in ITV have already put on record their belief that Adam Crozier is "totally unproven" the company has confirmed that shareholders will not be involved in the final negotiations of the proposed pay package. This is likely to cause significant friction between management and shareholders and we could see growing resentment. It will be interesting to see how the company responds to what is likely to be an increasing voice of discontent among shareholders.

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