Hollingworth travels to Thomas Cook as CFO

Paul Hollingworth will start the new year as group CFO at holidays business Thomas Cook.

He was most recently CFO of Mondi Group, and is an expereinced finance professional. He has served as group FD of BPB, De La Rue and Ransomes. He also chairs the audit committee at Electrocomponents.

Juergen Bueser has stepped down as CFO following a period of ill health, but he has recovered well and will serve as its group strategy director.

Acting group CFO Ludger Heuberg will hand over to Hollingworth and return to his operational role.

Manny Fontenla-Novoa, chief executive officer, said: “I am delighted to welcome Paul to the Board and very much look forward to working closely with him in the future. I would also like to take this opportunity to thank both Juergen for his valuable contribution as Group CFO and Ludger for his excellent input as acting group CFO.”

The tour operator beat market expectation with its annual results today.

Underlying pre-tax profits for the year to September was £308.2 million, broadly in line with last year and ahead of city predicitons of a 3% fall.

Shares were trading at 214p in mid-afternoon, a 0.9% decrease on its opening price of 223p.