BT chief picks up £2.4m pay and bonuses

Ian Livingston, chief executive of British Telecom, collected £2.4 million in pay and cash bonus last year with a further £1.4 million in shares due to him in three years' time.

The telecoms giant increased its profits by 71% last year as Livingston pushed it ahead in the broadband market and completed the turnaround of its once disastrous international arm.

Livingston's basic pay will be raised by 2.8% this year to £925,000, which is in line with the 3% pay deal BT struck with its workforce last year.

Hanif Lalani, the former finance director who quit in January 2010 after 26 years with BT, received a £612,000 pay-off.

Chairman Mike Rake is getting his first pay rise since he joined in 2007, boosting his salary from £600,000 to £650,000.

BT said that future bonuses would be based more on growth in revenues.