Former Vodafone boss Nick Read took home more than £4m in pay and bonuses last year despite being ousted following a dramatic slump in the company’s share price.

Mr Read, who left Vodafone in December after four years as chief executive, received a payout of £3.9m in the year to March, which included a £900,000 annual bonus.

He was also handed £270,000 in the first three months of 2023 for his work advising the board and will be paid more than £730,000 over the remainder of his 12-month notice period.

In its annual report published today, Vodafone also said it will provide £7,000 towards legal fees linked to his departure, as well as £50,000 to help him find a new job.

Mr Read was this week named chairman of Exa Infrastructure, a London-based company that owns fibre networks and subsea cables connecting Europe with North America.

The payday comes despite a troubled tenure for the former Vodafone boss, who was ousted amid pressure from activist investors over the company’s lacklustre performance and a near-50pc drop in its share price.