Thomas Cook boss's pay soars as terror hits tradingComments 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.