Peterborough Travel Company Parts With Head Of UK Retail Division
Thomas Cook parting with second senior figure
Thomas Cook is parting with Ian Derbyshire, head of UK retail division, after only recently parting ways with former chief executive, Manny Fontenla-Novoa.
The Peterborough based travel company, reported to be in trouble, said that Ian Derbyshire left to take over the family’s business.
The company’s former Chief Executive, Manny Fontenla-Novoa left after Thomas Cook reported a third profit warning in just a year. Sam Weihagen, his former deputy replaced him in the position.
The downturn in consumer spending has led the company into trouble, as a result of fewer people taking holidays, with the main core customer base of young families. It is also reported the profit warning reported by the Peterborough based travel company, could have been a direct result by turmoil and conflicts in the Middle East and North Africa.
Mr Derbyshire, the former head of its UK retail division, was said by Europe’s second-biggest tour operator, to have made the decision to part ways earlier in the year, but then agreed to stay put while the company plans to merge its high street stores with Co-Op Travel were completed, and the preliminary approval was given by the Competition Commission last month.
A strategic review is now to be continued by the Company.