Sir Ian Cheshire is expected to receive payments of over £3m from B&Q and Screwfix owner Kingfisher, of which he was until January this year chief executive.
The payout includes deferred bonus shares under Kingfisher's incentive share scheme, and he will receive an additional bonus of up to £300,000 if his handover to new chief executive Véronique Laury in the five months to January is deemed successful.

Ms Laury was chief executive of Kingfisher company Castorama France before taking over from Sir Ian, who had been with Kingfisher for 16 years.

Meanwhile, Philippe Tible, former chief executive of the Castorama and Brico Dépôt brands, will also be receiving an estimated £1.5m in deferred shares and bonuses. He also left Kingfisher in January.