Backlash to pay at Thomas Cook

British travel firm Thomas Cook said investors holding almost 30% of its stock voted against its remuneration report yesterday, a sign that shareholder anger over soaring executive earnings has not died down.

A large number of investors in British companies registered their disapproval of executive pay during the 2012 annual meetings season, an episode known as the ‘shareholder spring’.

The significant vote against the salaries of executives at Thomas Cook, one of the first big British companies to hold its AGM in 2013, suggests the investor backlash against pay has not gone away just yet.