Thomas Cook Group has announced that following the successful completion of longer term financing, Paul Hollingworth has decided to step down from the board and his role as group chief executive officer (CFO) at the end of June 2012. Hollingworth will be replaced by Michael Healy, who will become Group CFO and join the board on 1 July 2012. Healy will join the Group on 14 May 2012 to ensure an orderly handover.
Healy was formerly group finance director of Kwik-Fit and played a key role in implementing a business development plan to reduce the risk in a highly levered business. Prior to joining Kwik-Fit, he was finance director and chief operating officer (COO) of the Hong Kong-listed First Pacific Company and subsequently was the finance director of ebookers. Healy is a member of the Institute of Chartered Accountants of Scotland (CAS).
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