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LONDON (Reuters) - Standard Life Investments, the fund arm of insurer Standard Life (SL.L), said on Thursday it had voted against the re-election of the board members who set pay at holiday firm Thomas Cook (TCG.L) after it disagreed with their plans.
SLI, the second-biggest investor in Thomas Cook, with a near 13 percent stake, Reuters data showed, said the move followed disagreement with a plan to introduce a potential payment to executives above the normal upper limit set by the pay policy.
"In addition, we opposed the introduction of new elements to the remuneration plan as we strongly believe these should be dealt with in the existing policy," the statement added.
Reporting by Simon Jessop, editing by Maiya Keidan