LONDON Feb 9 More than 20 percent of
shareholders in tour operator Thomas Cook voted against
the board's planned pay awards for directors on Thursday,
including one of its top shareholders.
At the firm's Annual General Meeting, 21.68 percent of
shareholders voted against the Thomas Cook Directors'
The biggest revolt came over an alternative payment plan
called the Strategic Share Incentive Plan (SSIP), where 32.7
percent went against the board. The plan is designed for times
where specific near-term goals are needed, and shareholders
wanted greater clarity over what those goals might be.
The SSIP will not be used in the forthcoming financial year,
the board said at the AGM, and in a concession to unhappy
investors, the board will consult shareholders on what the goals
should be if it were to be used in the future.
Among those who voted against the board were Standard Life
Investments, the company's second-biggest investor according to
Thomson Reuters data.
(Reporting by Alistair Smout)