New fi­nance chief for city-based travel gi­ant

The Peterborough Evening Telegraph - - Your Telegraph -

TROU­BLED travel gi­ant Thomas Cook has an­nounced the ap­point­ment of a new fi­nance boss - just days af­ter se­cur­ing a £1.4bil­lion loan from its banks.

The Bret­ton based firm, which em­ploys about 1,600 peo­ple in Peter­bor­ough, has re­cruited mo­tor re­pair gi­ant Kwik-fit’s group fi­nance di­rec­tor Michael Healy as Thomas Cook’s chief fi­nance of­fi­cer.

The move comes af­ter Thomas Cook’s for­mer chief fi­nance of­fi­cer Paul Holling­worth an­nounced that he will step down from the board at the end of June.

A Thomas Cook spokesman said that his re­place­ment will take over as group chief fi­nance of­fi­cer and join the board of di­rec­tors on July 1 how­ever he will join the group on Mon­day to en­sure an or­derly han­dover.

Mr Healy was for­merly group fi­nance di­rec­tor of Kwik-fit and played a key role in im­ple­ment­ing a busi­ness de­vel­op­ment plan to re­duce fi­nan­cial risk.

Prior to join­ing Kwik-fit, Mr Healy was fi­nance di­rec­tor and chief op­er­at­ing of­fi­cer of the Hong Kong-listed First Pa­cific Com­pany and was the Fi­nance Di­rec­tor of ebook­ers plc.

Thomas Cook chair­man Frank Meysman said: “The board is im- mensely grate­ful to Paul Holling­worth for the ben­e­fit of his ex­pe­ri­ence and com­mit­ment and we are dis­ap­pointed to be los­ing him.

“He has worked tire­lessly to bring sta­bil­ity to the group, en­abling us to se­cure longer term bank fa­cil­i­ties and pro­vide a sta­ble plat­form from which to build. He leaves with our very best wishes for the fu­ture.

“I am de­lighted that I am able to an­nounce such a strong suc­ces­sor in Michael Healy.

“Michael is a highly suc­cess­ful ex­ec­u­tive with the ecom­merce, re­struc­tur­ing and ex­ten­sive public com­pany ex­pe­ri­ence we need to take the Group for­ward.

chal­lenge: Michael Healy

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