Todd Stitzer - chief executive of Cadbury Schweppes - took home a bumper pay packet in 2004, a year when the world's largest confectioner notched up underlying earnings growth of just one per cent.

Mr Stitzer saw his salary rocket 57 per cent to a whopping £2.148 million. And he could be on track for another pay rise this year, when he takes over some duties from chairman John Sunderland, who is stepping down to a part-time role in August.

In its annual report the company revealed Mr Stitzer's pay included a base salary of £673,000. That was topped up with a performance-related bonus of £848,000 - paid out in both cash and bonus shares - worth 126 per cent of his basic.

Under the group's annual incentive plan, executive directors are paid 80 per cent of their basic pay in cash for hitting pre-specified targets, up to a maximum of 120 per cent for an "exceptional" performance.

They can also boost their bonus by opting to receive some of it in the form of deferred shares via Cadbury Schweppes' bonus share retention plan.