Marks & Spencer boss Stuart Rose took home £3.6 million in salary and bonus last year, the M&S annual report has revealed.
Rose joined the company in mid-2004 and his since steered its recovery.
His bonus made up £2.6m while his salary accounted for £1.05m, up from £975,000 in January.
M&S requires executive directors to take 60 per cent of their bonuses in shares.
The shares that have been awarded to Rose, which are deferred for three year, are potentially worth £4.2m. This adds to his existing share option awards, which are worth more than £4m.
Fellow board members Ian Dyson, the finance director, and Steven Sharp, the marketing director responsible for M&S's successful advertising campaign, have also been rewarded for the company's improved performance.
Each received a cash bonus of £525,000, bringing their total cash pay to more than £1m.
M&S full-year results showed a 29 per cent rise in pre-tax profits to £965m, as sales increased by 10 per cent to £8.6 billion.
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