24 Sep 2018 07:02
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014
Succession plan for Chief Financial Officer
24 September 2018: Thomas Cook Group plc today announces that Group Chief Financial Officer Bill Scott has decided to step down. Bill will leave the company and the Board on 30 November 2018 following the full-year results announcement.
The Board has named Sten Daugaard as Group Chief Financial Officer on an interim basis. He will join the company on 1 October 2018 and Bill will lead a detailed handover before Sten is formally appointed to his role on 1 December 2018.
Sten has more than 30 years' of experience in senior financial positions in international companies and is currently also a member of the Board of Thomas Cook GmbH, Germany. He was most recently Chairman of the Audit Committee of German computer technology company Kontron and, prior to that, Chairman of the Audit Committee of international retailer, Pandora. His previous experience includes Chief Financial Officer of Lego and SGL Carbon, Chief Financial Officer of LTU Group and then Chief Executive of LTU International Airways.
The Board will commence a search for a long-term Group Chief Financial Officer with immediate effect.
Bill joined Thomas Cook in July 2012 and was appointed Group Chief Financial Officer on 1 January 2018.Thomas Cook Chairman, Frank Meysman, said: "I would like to thank Bill for the contribution he has made over the last six years at Thomas Cook. I am pleased that we have secured someone of Sten's considerable experience to assume this important role while we find a long-term successor to Bill. I look forward to working with Sten as he supports us through the next phase of the Group's development."
ENDS
Notes to editors:
About Thomas Cook Group Plc
Thomas Cook Group plc. is one of the world's leading leisure travel groups, with sales of £9 billion in the year ended 30 September 2017. It is supported by 22,000 employees and has 190 own-brand hotels. It operates from 17 source markets and serves over 20 million customers annually. Thomas Cook Group plc's shares are listed on the London Stock Exchange (TCG).
Enquiries
Analysts & Investors: | Tej Randhawa, Thomas Cook Group | +44 (0) 20 7557 6487 |
Media: | Matthew Magee, Thomas Cook Group Chris Alfred, Thomas Cook Group | +44 (0) 20 7294 7059 +44 (0) 20 7294 7203 |