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Travel services provider Thomas Cook (India) Ltd on Wednesday announced top-level rejig with Madhavan Menon designated as Executive Chairman while Mahesh Iyer has been elevated as Managing Director and Chief Executive Officer.
The company's board of directors in its meeting on Wednesday approved the re-designation and appointment of Menon as Executive Chairman in the category of Whole-Time Director from his earlier designation as Chairman and Managing Director, Thomas Cook (India) said in a regulatory filing.
His appointment will be for a fresh term of five years commencing from July 5, 2023, to July 4, 2028, not liable to retire by rotation, it added.
Further, the board approved Menon's continuation as Executive Chairman on attaining the age of 70 years on February 12, 2025, during his tenure, it added.
The company said its board also approved the re-designation of Iyer as MD and CEO from his earlier designation as Executive Director and CEO.
Iyer's re-designation as Managing Director and CEO shall be effective from July 5, 2023, for a fresh term of five years.
The new designations of both Menon and Iyer are subject to the approval of shareholders of the company at the ensuing 46th Annual General Meeting scheduled on August 23, 2023, the filing said.
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