The London Stock Exchange has cut the pay of Clara Furse, chief executive, by 30%, after profits remained flat on last year.

This year, Furse's package totalled £742,560, which included a basic salary of £351,000 and a bonus of £388,000. The bonus was £186,000 in cash plus £202,560 worth of stock. In March 2003, her salary was the same with a total bonus of 700,000, of which £185,000 was in shares.