Tui shareholders rebel over director's pay-off
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Anger at fat cat bonuses expanded beyond the banking sector yesterday after a fifth of investors at Tui Travel, the company behind Thomson Holidays, voted against approving its remuneration report.
The protest vote was a clear sign of anger at the £2.4m paid last year to Paul Bowtell, the finance director who left after a £117m accounting error was uncovered. He received £745,000 severance pay and a £343,000 contribution to his pension. The protest vote came as Tui reported first-quarter results, saying it is benefitting at the expense of its rival, Thomas Cook, which required a bank bailout last year. Tui's sales at the end of 2011 rose 5 per cent to £2.85bn. It made an expected loss of £109m – travel firms are usually in the red over the winter.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments