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PERFORMANCE-BASED REMUNERATIONS AS A CORPORATE GOVERNANCE PROBLEM: THE CASE OF THOMAS COOK


We are delighted to announce the publication of the case study entitled “Performance-based remunerations as a corporate governance problem: The case of #Thomas #Cook,” which has been prepared by Dr. John Ho.


The video recording of the case study as well as the slides used during the presentation and a list of additional relevant sources are accessible at the following address: www.corporatecrime.co.uk/corporations-governance-crime

It is part of a series of eight case studies focused on occurrences of corporate misconduct, which were presented during the event “Corporations, Governance, and Crime” that was held on the 17th of November 2022.

This hybrid international roundtable (in-person and online) was focused on corporate governance failures and irresponsible business practices. It was organized by our Editor-in-Chief, Dr. Costantino Grasso - Associate Professor in Law at Manchester Law School, in cooperation with the Manchester Metropolitan University, and was included in the teaching activities of the Master of Laws course in Corporate Governance and Business Ethics at Manchester Law School.


The event was is driven by the ambition of casting light on some of the most burning issues affecting the corporate world through a series of brief but highly topical case studies. In particular, a series of terrific guests focused on eight select corporate scandals, which covered issues spanning several countries and different industrial sectors including the food, leisure, extractive, and financial industry. The event also focused on a recent UK judicial decision that represents a matter of concern in the area of whistleblowing and corporate compliance and audit systems.


In this case study, Dr. Ho shows that the company Thomas Cook used dubious accounting methods to make its profits appear larger to justify the payment of its directors' bonuses. He argues that it is important to regulate executive compensation more stringently by including clawback rules for directors' remuneration in case of misconduct.


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