Outgoing Unilever chairman Mr Niall FitzGerald will be one of the highest-paid non-executive chairmen in the FTSE 100 when he takes over at Reuters.

Mr FitzGerald will be paid £500,000 sterling (€742,942) a year when he steps into his new role in October, nearly double the £278,000 paid to Sir Christopher Hogg, his predecessor.

The salary was disclosed in Reuters' annual report, which also revealed that the bonus for Mr Tom Glocer, chief executive, increased by £189,000 last year, taking his total package to £1.9 million. He was also awarded a package of share options that do not vest until 2008 but would be worth about £10 million today.

The UK news and information group is emerging from the most challenging period in its history, with a £440 million cost-cutting programme in which 3,000 jobs are being axed over three years.

Reuters said Irishman Mr FitzGerald's remuneration would be limited to the £500,000 salary.