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Thomas Cook in notice row
THOMAS Cook has been accused of ignoring corporate governance rules by offering its new chief executive, Harriet Green, a two-year notice period if it terminates her contract.
In its annual report, the holiday giant said that period is cut by one month every month for the first 18 months, until it becomes a more standard six-month notice period.
Green, who took over in July, has to give just six month’s notice.
The UK corporate governance code recommends a maximum notice period of one year.
Shareholder advisory group Pirc said the terms were a breach of best practice.