BT's Livingston gets £3.85m pay deal

BT's chief executive Ian Livingston had a bumper pay package last year, with £3.85m in pay, cash, share bonuses and perks.

He has to stay at the telecoms group for the next three years to get half his bonus – or £1.34m of free shares. He also collected £4.8m of free shares last year from the 2009 long-term incentive plan.

That was the year BT issued a massive profits warning because of its Global Services business, in response to which Mr Livingston launched a recovery plan which was scheduled to take three years.