Originally Posted by
Wickerbill
The Select Committee hearing was no more than a public telling-off for the former board of Thomas Cook. A number of the panel, and in particular the Chair (Reeves), just kept asserting their pre-determined view and in many cases appeared not to listen or accept, even to a degree, the answers they were given. I do question the relevance of such an enquiry.
I must agree. People are always quick to blame the Chief Exec, but I'm sure some of you recall the emotional footage of Peter on the 'doomsday' when it became clear that TC could not continue.
I would argue that as a man who took most of his bonus in shares and looking at his remuneration package over the past three years, he was actually underpaid given the size of the business. He could have easily jumped elsewhere for more money.... but he didn't. The fact is, to attract quality management, you have to pay the right price. Just because there's huge disparity between that and a basic staffers salary does not mean that it's unfair he received it. But alas it's not unusual in this situations for the top management to get swords thrown at them from all angles and I'm certain based on my knowledge that the committee has two angles of attack. 1) A Labour party that wants to be the 'party of the people' and 2) A Conservative party that wants to shift away the notion that the Gov could have done more.