Harriet Green left Thomas Cook by ‘common agreement’ and was not forced out, chairman Frank Meysman has insisted.
Meysman described media reports that Green had been dismissed as not the truth, saying the company had been building up to her departure over the last year.
"A year ago we promoted Peter (Fankhauser, who has been named as Green’s replacement) to the chief operating officer job. At that time, it was clear to everybody, and to Peter, that at some time he would replace Harriet.
"It wasn’t decided when."
Meysman added the company’s preferred policy was to change leadership at the beginning of a new business year. "Better to do it now, rather than a year from now," he said.
Meysman paid tribute to Green’s contribution to turning the business around.
"This business has come a long way. Three years ago it was in a very, very difficult situation. We looked at who can make the difference and that person was Harriet Green.
"She came totally from a different business environment. She was exactly what this business needed, someone who looked at the business from outside and created some very new paradigms, which has been successfully done."
But he added: "The whole team has done a great performance. It was never just the CEO."
Meysman described Fankhauser as having ‘a different style’. He said: "Peter has 20 years’ experience in the travel industry – 13 years at Thomas Cook – and has been active in Germany as well as the UK.
"He understands the difficulties of the business and understands cultural differences."
When asked about plans for further shop closures in the UK, new CEO Fankhauser said: "It’s business as usual. We have no plans to close any new shops. We are maintaining our strong footing on the high street."
