ITV's new chief executive officer Adam Crozier can pocket as much as 16 million pounds over the approaching five years.

Reports suggest that Mr. Crozier, the former CEO of Royal Mail, will be paid a basic salary of 800,000 pounds along with a potential annual bonus of 150 per cent of the basic pay.

He could earn additional 5-6 million pounds if the broadcaster gives better performance than its counterparts.

Mr. Crozier will also reportedly get a parcel of shares on his arrival, with the final size of its shareholding depending on his performance in the first three years. However, he will be allowed to take shares only at the end of five years.

But, Mr. Crozier’s whole package will be much less than a package of 25 million pounds that was demanded by BSkyB’s former CEO Tony Ball to succeed Michael Grade at ITV.

Shares in ITV closed at 56½ pence-a-share on Friday.