Harriet Green Resigns: Who is New Thomas Cook Chief Executive Peter Fankhauser?
After seeing Harriet Green suddenly step down as Chief Executive Officer, Thomas Cook has appointed Peter Fankhauser to take her place with immediate effect.
Fankhauser steps up from his previous position of Chief Operating Officer of the world’s oldest travel company, after 13 years at the business.
The new boss had been in his position as COO for just over year, the move back then part of a leadership shake up which Green, appointed in mid-2012, believed would act as “another step on our journey to further professionalise the Group, break down regional silos and realign leadership responsibilities to accelerate the delivery of our strategy for sustainable profitable growth”.
Before taking on the role of COO, Fankhauser spent 12 years in a number of senior roles across Europe, and has been instrumental in the turnaround of the Group's UK business.
UK-based Thomas Cook dates back to 1841, but was in severe difficulty only a few years ago as share prices fell 75 percent, though is on the road to stability once again.
In an interview with TTG Digital in September, Fankhauser said that streamling processes is key to the continued recovery and flourishing of the company.
“It is like mowing grass. If you do it every week it goes without big trouble. If you don’t do it every week and cut it after two months, you have to take out a big machine,” he said.
Prior to Thomas Cook, the new boss worked at Kuoni Travel and will bring a wealth of relevant experience to the role, as he looks to continue the drive towards best practice across all markets and product innovation.
After Green’s sudden departure, he will have to hit the ground running.
Like what you see! Signup for our weekly newsletter