Thomas Cook’s Madhavan Menon to retire, will continue as non-executive chairman

The corporate’s present managing director and chief govt officer Mahesh Iyer will oversee operations to any extent further.

Menon’s tenure noticed Thomas Prepare dinner make a number of acquisitions and convey a number of marquee journey manufacturers into its portfolio resembling SOTC, SITA Travels, Asian Trails, Desert Adventures, Allied TPro, Australian Excursions Administration and Sterling Vacation Resorts amongst others.

Thomas Cook India’s operations now span 28 international locations and 5 continents.

It gives providers throughout international alternate, company journey, conferences, incentive journey, conferences, exhibitions and leisure journey.

The corporate was taken over by Fairfax Monetary Holdings in 2012 for a sum of $150 million.Beneath Menon’s management the corporate acquired notable journey manufacturers from the Kuoni group which took its expanse from 4 international locations – India, Mauritius, Sri Lanka and Hong Kong – to over 21 international locations. The acquisition of manufacturers occurred in 2017. Manufacturers resembling Allied TPro that had been acquired from Kuoni gave it a presence in North America whereas others resembling Australian Excursions Administration and Desert Adventures which had been earlier a part of Kuoni expanded its footprint in Australia and the center east and north Africa.Thomas Prepare dinner India has turnover of practically Rs. 8000 crore.

Menon is on the boards of different Fairfax group corporations resembling CSB Bank. He’s additionally the chairman of Fairfax India Charitable Basis.

Menon began his profession at Grindlays Financial institution and labored for Citibank, Emirates Financial institution and Birla Sunlife Asset Administration Firm earlier than becoming a member of Thomas Prepare dinner in 2000.