John Fry, the outgoing chief executive of embattled regional newspaper publisher Johnston Press, was paid more than £1m last year.
Johnston Press, which cut about 400 jobs to put the business back in the black with pre-tax profits of £16.5m, paid Fry a performance-related bonus of cash and shares totalling £460,000, according to the company's 2010 annual report.
Fry, who this month announced he is to stand down after just over two years in the top role, received a basic salary of £525,000 – unchanged from 2009 – and a total remuneration package of just over £1m.
According to Johnston Press's annual financial report the maximum bonus Fry could have received totals 150% of salary with 80% based on a "profit target", 35% on an "agreed cash flow target" and the final 35% on "individual key performance targets".
In total Johnston Press paid out £2.5m to directors, down slightly from the £2.6m paid in 2009, with bonuses totalling £893,000.
Earlier this month Johnston Press's share price plummeted by 20% after investors reacted to news of a tough start to the year with a double digit decline in advertising in the first nine weeks of trading.
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