The chief executive hired to run the London Olympics will probably be paid in the region of £500,000 (or about $1,000,000) a year, according to reports.
The figure was mentioned to the Olympic news service, Around the Rings, by a source said to be familiar with the CEO search.
The executive hired to run London 2012 will also be expected to see through the completion of the Games, a six-and-a-half year commitment, assuming a hire is made by the end of the year or in early 2006.
The London-based search firm of Odgers Ray & Berndtson has the job of finding a recruit. The position has been advertised in the UK and internationally.
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