Thomas Cook India rejigs top management, appoints Mahesh Iyer as MD & CEO

Travel services operator Thomas Cook (India) Ltd. announced a top-level restructuring on Wednesday. Mahesh Iyer was promoted to Managing Director and Chief Executive Officer and Madhavan Menon as Executive Chairman.

Menon's re-designation and appointment as Executive Chairman in the category of Whole-Time Director, from his previous designation as Chairman and Managing Director, were approved by the company's board of directors during their meeting on Wednesday, Thomas Cook (India) said in a regulatory filing.

It was stated that he would be appointed for a new term of five years beginning on July 5, 2023, and ending on July 4, 2028, and that he would not be subject to retirement by rotation.

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 business said that its board had also accepted Iyer's reclassification from Executive Director and CEO to MD and CEO. From July 5, 2023, Iyer will once again serve as Managing Director and CEO for a period of five years. The 46th Annual General Meeting of the firm, slated for August 23, 2023, will decide whether or not to approve the new designations of Menon and Iyer, according to the petition.