Alliance Boots boss Andy Hornby was paid over £2m for the first nine months in his role at the pharmacy and beauty chain.

Hornby, who previously ran HBOS, received pay and benefits of £1.68m in the year to March 31, the retailer’s annual report revealed.

This included a bonus of £805,000, a pension entitlement of £240,000 and benefits of £34,000. Hornby also received a £400,000 “golden hello” for joining the group. This makes Hornby the highest paid Alliance Boots director.  

Sources close to Alliance Boots defended Hornby’s pay package, telling the Financial Times it was benchmarked against companies in the FTSE 100.

This week Alliance Boots reported profits in excess of £1bn in its full year to March 31.