A report that was released today has suggested that Thomas Cook, a tour operator, is currently looking for a successor to take over from the chairman who steered the company back from the brink of financial collapse. He also oversaw the public relations disaster of the firm’s response to the deaths of two children in its care.
Egon Zehnder International was hired by the company has to look for suitable candidates to take the place of Belgian-born Frank Meysman. Meysman has been serving as the chair of Thomas Cook since 2011.
Outsiders and the Current board members are now being considered for the said role.
Sky News reported that even though the search process had tentatively started, Meysman could still continue to remain in his post until 2020. However, he is planning to step down once his successor has been named.
Meysman was the one who presided over a tough period at the firm. He steered it out of a drastic downturn in business with a massive capital restructuring that amounted to £1.6 billion.
He was also contributory in hiring Harriet Green as the chief executive of the company in 2012. Green was able to simplify the business and adjust to the shifting consumer trends, in particular, the increase in website sales.
Green left the company in 2014 and her position was taken over by Peter Fankhauser, who placed added emphasis on own-brand hotels.
The time of Meysman at the firm was slightly mired by the handling of Green of the company’s response to the deaths of two children on a Thomas Cook in 2006.
Apparently, the family of the children were angry over the amount of time that it took the company to release a public apology for the role of the firm in the said tragedy.
Thomas Cook refused to issue a comment regarding the matter.