Top U.K. CEOs’ Total Pay Falls by $1 Million, PwC Report Shows

More than half of the chief executives at the U.K.’s biggest listed companies have had their salaries frozen this year, while a cut in bonuses means their average total compensation fell by more than $1 million, according to analysis by PwC.

Reduced bonuses for 2020 trimmed average total pay to around 3.5 million pounds ($4.9 million) from about 4.3 million pounds, according to PwC’s analysis of the first 50 FTSE 100 companies to publish their 2021 annual remuneration reports. About one-third of the companies have reduced, waived or canceled chief executive officer bonuses for last year.

The drop in executive ...