More changes at the top as Thomas Cook seeks to recover

More changes at the top as Thomas Cook seeks to recover

The board of Thomas Cook has announced three of the longest serving non-executive directors will each retire at the end of the 2012 annual general meeting.

David Allvey, Bo Lerenius and Peter Middleton will all step aside on February 8th.

David Allvey’s retirement comes, in accordance with corporate governance best practice, at the end of his nine years of continuous service as a non-executive director of MyTravel Group and then the company, following their merger.

Bo Lerenius and Peter Middleton have decided to retire to allow the new chairman, Frank Meysman, more flexibility to “refresh” the board.
 
In a statement earlier, Thomas Cook added that an international search and selection firm has been appointed to assist the chairman and the nominations committee to identify and appoint additional non-executive directors with recent operating experience.

Meysman said: “I would like to thank David, Bo and Peter for their contribution to the board over the years, and particularly during the recent challenges that the group has had to face.

“I, and my other colleagues on the board, wish them well for the future.”