Thomas Cook boss's pay soars as terror hits trading

Comments Off on Thomas Cook boss's pay soars as terror hits trading

Thomas Cook boss Peter Fankhauser scooped a 19% pay rise for his promotion to the top job, giving him a basic salary worth almost £700,000 in a year when the travel giant’s shares sunk by a third on terror concerns.

Fankhauser’s salary rose from £585,000 to £697,000 this year, after upgrading his chief operating officer business cards to the chief executive kind in November 2014.

He also more than doubled his “executive benefits” — including company car, healthcare, life assurance, and tax advice — to £67,000.

But he did miss out on multi-million-pound bonuses after Cook’s turmoils this year: would-be travellers dumped the idea of holidaying in some of its former top markets, including Egypt and Tunisia. As a result, his £4.3 million pay package of last year was whittled down to £1.2 million.

Cook’s shares, which stood at 125p when Fankhauser took the helm two years ago, fell another 0.3p today to 80.1p.

Source Article from http://www.standard.co.uk/business/thomas-cook-boss-s-pay-soars-as-terror-hits-trading-a3406781.html

November 29, 2016 |
Copyright © 2018 LondonBusinessLink.co.uk. All Rights Reserved. LondonBusinessLink.co.uk
WordPress Directory Theme

Classified Ads Software

We use cookies to ensure that we give you the best experience on our website.
More about our cookies
Ok
Skip to toolbar