Green may get package of up to €3.7 million in first year
Thomas Cook’s new chief executive, Harriet Green, could get a pay package of up to £3 million (€3.7 million) for her first year in the job, according to an article in the UK newspaper the Sunday Times.
Green’s contract, allegedly seen by the newspaper, includes an annual salary of £680,000 – 20% less than the amount given to previous boss Manny Fontenla-Novoa. But she could earn a further performance-related bonus of £1.5 million as well as pension payments, compensation for lost share options and bonuses from her time at electronics company Premier Farnell.
A spokesperson for Thomas Cook confirmed the details and said the package reflected “proper pay for proper performance”. While Green has been in charge, the debt-ridden operator has managed to begin a turnaround in its fortunes. She is expected to reveal detailed plans for the group’s future early in 2013.