ITV boss may make £21m

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ITV CEO Charles Allen could receive £21 million (E29.4 million) over the next four years from three separate executive remuneration schemes operating at the newly merged broadcaster, according to a report in the Guardian newspaper.

Under an existing share-matching scheme agreed prior to February's merger of Carlton and Granada to form ITV, Allen is also entitled to a further share option scheme worth more than £1 million at present share prices.

The potential reward comes after criticism of the £15 million payout for former Carlton boss Michael Green, ousted as ITV's chairman-designate by rebel shareholders last year.

Shareholders are also expected to raise concerns about a change of control clause that could enable Allen and senior executives to walk away with huge payouts in the event of a takeover.