Thomas Cook reconstitutes board

Thomas Cook India Limited (TCIL) announced the reconstitution of its Board of Directors post a meeting held in Mumbai on Sunday.

The new board will now have four new members joining as additional directors with effect from March 31.

The changes have been made after the acquisition of TCIL by Thomas Cook UK (TCUK) Limited and the mandatory Sebi takeover regulations. It may be recalled that earlier this month TCUK had announced that it would acquire up to 74.9 per cent in TCIL, buying back the stake it sold to the Dubai Financial Group (DFG) two years back. As a result of this, the DFG board members have to resign.

Those coming on board are Manny Fontenla-Novoa, group chief executive officer, Thomas Cook Group plc, UK, Dr Jürgen Büser, CFO, TCUK, Michael Hallisey, executive director (legal), TCUK and Roland Zeh, director (finance-integration), TCUK.