Thomas Cook boss defends £500,000 bonus
Former Thomas Cook boss Peter Fankhauser has defended his £500,000 bonus to a committee of MPS.
He said he was “deeply sorry” that he was not able to save the travel operator but added that he had worked tirelessly before its collapse.
“Multiple parties” were involved in the failed rescue deal, he said.
Frank Field MP, Chair of the Work and Pensions Committee, was not impressed: “Thomas Cook workers now face a long wait to find out exactly how much they’ve lost from their life savings, and while their former bosses might argue that this isn’t another BHS, Carillion or British Steel, they will have a hard time justifying the millions they pocketed, one eye on the door, while the company collapsed around them.
“If they’ve had a chance to check how their own pensions are affected, perhaps the high-paid executives responsible would like to bolster the retirement of some of the workers they left behind, and give some of it back?”