Thomas Cook readjusts targets for long-term incentive plan

Thomas Cook has readjusted targets for its three-year long-term incentive plan.

Thomas Cook adjusted the targets of its three-year bonus package, which started in 2007 for the travel firm’s most senior staff, as a result of the volcanic ash cloud, which caused major disruption for travel operators.

In its latest annual report Thomas Cook described the ash cloud as an exceptional event that had a distorting effect on the share price and said it has used its power to change shareholder return targets.

The Association of British Insurers (ABI) issued a red top alert to signal serious concerns about the firm’s corporate governance ahead of its annual general meeting due to take place on friday.

Thomas Cook was unavailable for comment. 

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