Luxury fashion retailer Burberry has paid £7.9 million to Christopher Bailey for his first year as chief creative and chief executive officer, even though his salary has been previously brought into question by shareholders.

Both Mr Bailey and previous CEO Angela Ahrendts, who has been named as the highest paid woman in the US, have been praised for the turnaround of the luxury trench coat maker and turning it into a ground-breaking digital business.

Since Mr Bailey started at the company its share price has risen by over 500%.

Ian Carter, chairman of Burberry’s remuneration committee, said “These decisions were not taken lightly” after over 50% of shareholders at last year’s AGM voted against the pay deal for Mr Bailey.