Thomas Cook chief executive Harriet Green has stepped down from the controls of the beleaguered travel company after just two-and-half years in charge, as it reported sales and profits had fallen again, despite telling MT’s Inspiring Women conference last week its transformation was ‘absolutely not done’. Shares duly hit a bout of, er, turbulence and plunged more than 19% soon after the markets opened.
In contrast to last week, Green, who is being replaced by chief operating officer Peter Fankhauser, said in an official statement released to the stock market alongside Thomas Cook’s full-year results this morning, ‘I always said that I would move on to another company with fresh challenges once my work was complete. That time is now.’
‘There are many things that aren't done,’ she told the Inspiring Women audience on November 20th. ‘You can't do a transformation on this sort of scale in a year or two years. I usually say it's about six years... We go to the city next week with our second year of results, to show if and how the company has become fitter and better, and we're absolutely not done.'