Levy bonus could back-fire at EMI

STRUGGLING EMI is risking fresh controversy with a bumper bonus package for music chief Alain Levy that could pay him up to 7.5 times his £1m basic salary.

He could also make up to £3m bonus, plus as much as £3m in options and £1.5m in performance shares - £8.5m in all. EMI said:

'These are stretch targets. He will not get 7.5 times salary just for turning up.'

But the huge deal could stir up a new row at the group which came under fire from investors last year over potential two-year pay-offs for executives. These have since been cut to one year.

Clearly still sensitive, it says Levy's £1m is 'the lowest salary in the industry' and his pay must not 'fall...significantly below the market'.

Levy was hired in 2001 to turn around the recorded music arm. Last year his package was £1.6m, half the £3.3m of music publishing boss Martin Bandier. Chairman Eric Nicoli got £1.38m.