Green left Thomas Cook in November 2014 and will receive a package of shares worth almost £10.5 million.

Despite the news coming out last November, the company is currently in the spotlight over its handing of the inquest into the deaths of Bobby and Christi Shepherd, while on one of its holidays in Corfu nine years ago.

The Institute of Directors criticised the company’s “shameful behaviour”.

“There is so much our big companies get wrong – often because they are rigid and inflexible, and because they follow the letter rather than spirit of the law,” IOD director general Simon Walker said in the group’s in-house magazine Director.

“Those of us who champion business need to be critical when companies mess up.”

According to City AM, Labour MP Mary Creagh, who represents the Shepherd’s Wakefield constituency, will table an early day motion in parliament criticising the family’s treatment by Thomas Cook.

“I would urge the remuneration committee to listen to what people have been saying about the company and think carefully about what message this kind of bonus sends,” Creagh said.

A spokesperson for Green told City AM: “Her remuneration is based on her ability to turn around a failing company, not on the handling of a legal process and an inquest in which she had no direct involvement.”

David Cameron’s former director of strategy Steve Hilton, called Green a “greedy, shameless woman”

“This is a great example of why people are so fed up with what’s going on in the private sector, as well as in the public sector, in terms of these big bureaucratic organisations that pay no attention to the concerns of individual people,” he said.

A spokesperson for Thomas Cook told The Telegraph: “Harriet Green is due to receive shares in June. The remuneration committee will, as a matter of ordinary course, review these awards when they fall due next month.”