Move comes as company reveals strong results
Thomas Cook’s chief executive Harriet Green has stepped down as the company reveals strong full-year results. In a statement, the operator said Green would be replaced by chief operating officer Peter Fankhauser who would take over “with immediate effect”.
Green commented: “The transformation of Thomas Cook into a company with a market capitalisation of just under £2 billion and a share price of over 130 pence is one I have been proud to lead. I always said that I would move on to another company with fresh challenges once my work was complete. That time is now. I wish all of the team at this re-energised company continued success, as they move to the next phase of the company’s development.”
Green joined the company two years ago when the company’s share price had fallen to 14 pence and had a market capitalisation of £148 million.
Her remit was to transform the company, placing it on a sound financial footing with a solid operational team able to compete in the consumer travel market.
Peter Fankhauser has held a number of senior roles at Thomas Cook over the last 13 years and was promoted to COO a year ago.