[denphone]

Originally Posted by jfman

It was hardly badly run, it ran up huge debts while handing out money right left and centre to shareholders and directors. All profiting from mergers and acquisitions along the way. That's what a company is run for, is it not? Squeezing money out for shareholders.

Fat cats spring to mind yet again as l have nothing against money being shared out when a company is doing well financially but the company had been in financial trouble for nearly a decade..

Manny Fontenla-Novoa, who led the acquisition spree that saddled the company with more than £1bn of debt, was handed more than £17m in just over four years as boss of Thomas Cook, boosted by bonuses awarded for slashing 2,800 jobs following the merger with MyTravel. He quit in 2011 as the tour operator came close to collapse.

His successor was Harriet Green, who was paid £4.7m for less than three years plus a share bonus worth a further £5.6m.

Peter Fankhauser, who was in charge when the company collapsed, was handed £8.3m, including £4.3m in bonuses.