Thomas Cook appoints seasoned finance professional Paul Hollingworth as CFO - and posts better than expected results
Paul Hollingworth will start the new year as group CFO at holidays business
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.