UCI president Brian Cookson will be paid an annual salary of around £235,000, around £76,000 less than predecessor Pat McQuaid, cycling’s world governing body has announced.

Cookson was elected president last month and on Tuesday presided over the UCI management committee at an extraordinary meeting to discuss a range of issues.

As part of a commitment to transparency, Briton Cookson pledge to reveal his remuneration, something Irishman McQuaid declined to do during his eight years in office.

A UCI statement read: “The meeting agreed, with the full agreement of Brian Cookson, an annual salary of 340,000 Swiss Francs for the new UCI President (110,000 Swiss Francs less than the equivalent remuneration package in place at the time of the presidential election).

“This package to be subject to an annual review by the newly created remuneration committee.”

Cookson began the process of following through with other promises made in his election manifesto.

During his campaign Cookson vowed to lead the UCI in a different way to McQuaid, who favoured an autocratic approach, and the new man was pleased with the day’s work.

Following the meeting, Cookson said: “Today’s management committee meeting was an important moment for the UCI as we put in place a number of measures to restore trust in the UCI and ensure our great sport is able to move forward.”