Travel company Thomas Cook has reduced the maximum amount that can be awarded to CEO Peter Fankhauser under a new long - term bonus scheme following opposition by shareholders . The plans , which would have seen Fankhauser receive up to 225 % of his £ 703,000 ( $ 877,453 ) In response, Thomas Cook reduced the maximum potential payout to 200% under the strategic share incentive plan (SSIP), but said it would not use it this year. salary , equivalent to £ 1.6 million per year , were voted down by 32.7 % of shareholders . The company has now limited the maximum amount to 25 % under the strategic share incentive plan ( SSIP ) and has announced this plan will not be implemented this year . Thomas Cook will also consult major shareholders before future use of SSIP and with regard to performance measures .
Travel company Thomas Cook has reduced the maximum amount that can be awarded to CEO Peter Fankhauser under a new long - term bonus scheme following opposition by shareholders . The plans , which would have seen Fankhauser receive up to 225 % of his £ 703,000 ( $ 877,453 ) salary , equivalent to £ 1.6 million per year , were voted down by 32.7 % of shareholders . The company has now limited the maximum amount to 25 % under the strategic share incentive plan ( SSIP ) and has announced this plan will not be implemented this year . Thomas Cook will also consult major shareholders before future use of SSIP and with regard to performance measures .