Angry shareholders in newly-merged ITV have branded the £15 million pay-off to the former chairman of Carlton Communications as "obscene".
Investors told the company's annual meeting they believed Mr Michael Green did not deserve the payout, which he received after shareholders barred him as chairman of the new ITV.
One shareholder said today that the award seemed to be "so enormous as to be unreasonable and obscene".
Another shareholder said the company, which was formed in February from a £4.5 billion merger between Granada and Carlton, had done well for small shareholders but he said that in the award to Mr Green, they had "failed".
The chairman of the new ITV, Sir Peter Burt, said he and his colleagues on the board of ITV were not happy about the amount paid to Mr Green.
But Sir Peter said the company's lawyers had advised them that Mr Green had a potential case for constructive dismissal and that he was entitled to compensation for loss of office.
Sir Peter said the company had had to act in line with the rules of its pension schemes and the law.
The comments by Sir Peter and shareholders came ahead of votes to re-elect the directors who authorised the payment to Mr Green.
Reports had suggested that 40% of shareholders could abstain or vote against their re-election.
PA