Three Thomas Cook directors to go
LONDON, Jan 4 – Thomas Cook said today that three board members will leave next month, two of them early, as the travel firm shakes up its leadership in the wake of a funding crunch that triggered a collapse in its share price.
The world’s oldest travel firm said non-executive directors David Allvey, Bo Lerenius and Peter Middleton would all retire at the company’s annual shareholder meeting on Feb. 8 but that only Allvey had been due to go after nine years service.
“Bo Lerenius and Peter Middleton have decided to retire to allow the new chairman, Frank Meysman, more flexibility to refresh the board at this stage of the company’s development,” Thomas Cook said in a statement.
Lerenius, a former chief executive of Stena Line and Associated British Ports, had been on the board since 2007 while Middleton, a former chief executive of Thomas Cook and Lloyd’s of London, had only been a non-executive director since 2009.
Thomas Cook is currently being run by Sam Weihagen on an interim basis while it searches for a new chief executive following the August departure of Manny Fontenla-Novoa after a spate of profit warnings. – Reuters