Succession plans for position of Group Chief Financial Officer

Succession plans for position of Group Chief Financial Officer

26 September, 2017:  Thomas Cook Group plc today announces that Group Chief Financial Officer Michael Healy has decided to retire. The Board has appointed Bill Scott, currently Director of Financial Reporting at the company, as Michael’s successor. Over the next three months, Michael will lead a detailed handover to Bill who will assume the role of Group Chief Financial Officer and be appointed as an Executive Director on the Board on 1 January when Michael stands down. Michael will leave the company on 31 March at the end of his six-month notice period.

Michael joined Thomas Cook in May 2012, formally assuming the role of Group Chief Financial Officer in July of that year. Over the last five years, he has led a radical restructuring of the Group’s finances to support the transformation of the business. Following his retirement, Michael will continue to oversee two of the key areas of future growth for the Group in the roles of Deputy Chairman of Thomas Cook China and Chairman of Thomas Cook Money, our new financial services division.

Bill joined Thomas Cook in July 2012 and is currently Director of Financial Reporting. Prior to joining the Group, he was Group Financial Controller of Kwik-Fit, the automotive parts repair service. Bill has previously held senior finance positions across a broad range of public and privately-owned businesses, both in the UK and Asia, including PricewaterhouseCoopers, First Pacific Company, Shell and eBookers. His responsibilities at Thomas Cook have included overseeing all aspects of financial reporting and planning, audit and control, and investor relations.  In addition, Bill has taken a leading role in all of the Group’s corporate transactions, including the equity/debt raising as part of the Group’s recapitalisation in 2013 and subsequent debt refinancing exercises.

Thomas Cook Chairman, Frank Meysman, said: “Michael will leave Thomas Cook a much stronger and more resilient business than the one he joined five years ago. I would like to thank Michael for the very significant contribution he has made to the financial health of the Group and I am pleased that he has agreed to continue his involvement in the business through non-executive leadership roles in Thomas Cook China and Thomas Cook Money, both exciting areas of growth. I look forward to welcoming Bill to the Board in the new year to support us through the next phase of the Group’s development.”

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About Thomas Cook Group Plc.

Thomas Cook Group plc. is one of the world’s leading leisure travel groups with sales of £7.8 billion. Thomas Cook is supported by 22,000 employees and operates from 16 source markets, serving over 19 million customers annually. Thomas Cook Group plc’s shares are listed on the London Stock Exchange (TCG).

 

Contact details:

Analysts & Investors James Sandford, Thomas Cook Group +44 (0) 20 7557 6433
  Tej Randhawa, Thomas Cook Group +44 (0) 20 7557 6487
Media Alice Macandrew, Thomas Cook Group +44 (0) 20 7557 6409