Ex-Thomas Cook Group chief ‘returns to travel sector’
The boss of Thomas Cook Group at the time of its collapse is reportedly returning to the travel sector.
Peter Fankhasuer, who was chief executive for five years until its collapse in September 2019, is to become chairman of German OTA itravel
Fankhauser has also been named as chief executive of leadership development consultancy Manres.
Thomas Cook fell into liquidation leading to the biggest repatriation of holidaymakers in peacetime history after a failed attempt to secure a £900 rescue deal with its creditors and Chinese leisure conglomerate Fosun.
Fankhauser became chief executive in November 2019 after both Harriet Green and Manny Fontenla-Novoa had been a at the helm of what was at the time the UK’s second largest travel group after Tui.
The Insolvency Service disclosed in January it would take no further action against former directors of Thomas Cook Group.
The Thomas Cook brand was relaunched as an online entity in the UK by Club Med owner Fosun a year after the failure. Hays Travel had previously acquired the Thomas Cook retail estate.