Thomas Cook chairman shows confidence in brand with share purchase

Thomas Cook chairman shows confidence in brand with share purchase

Frank Meysman, the incoming chairman of struggling tour operator Thomas Cook, has offered his own financial endorsement of the company, purchasing 100,000 shares.

Ahead of assuming the role at the end of the year, Meysman purchased the shares at 39.09 pence each, for a total of £39,090.

In total, Meysman’s holding stands at 0.011 of the total percentage of Shares held following the acquisition.

Meysman, 59, was recently announced as the new chairman of Thomas Cook, and is set to take over from Michael Beckett when he retires at the end of 2011.

Thomas Cook has seen its share price fall 77.99 per cent in the past year following a series of profit warnings.

Last week the tour operator confirmed it would suspend dividends as it continued a fundamental review of its operations.

Thomas Cook is also looking for a new chief executive, following the shock resignation of Manny Fontenla-Novoa earlier this year.