The Executive Chairman of Thomas Cook, Madhavan Menon, has announced his retirement from the company on 4th February 2025. Menon has worked with the company for over two decades. In July 2023, Menon was re-appointed as Executive Chairman for the next five years. But after his retirement approval, he will continue as Non-Executive Chairman of the Board.
Menon joined Thomas Cook India as Executive Director in the year 2000, where he supervised the foreign exchange division. Further, in 2006, he was promoted to Managing Director and later the Chairman and MD in 2016. Under his leadership, Thomas Cook India has become one of the leading traveling companies. The company expanded to 21 countries across four continents, like China, Australia, South Asia, the Middle East, and Africa.
“Today marked another significant step in my career. The Board of Thomas Cook India has approved my request to retire from my role as Executive Chairman, effective May 2025. I have been invited to continue serving as Non-Executive Chairman.” Menon announced via LinkedIn.
In his new role as Non-Executive Chairman, Madhavan Menon will provide guidance, mentorship, and support to the company, Board, and senior management. This is to ensure a seamless transition and to have an advisor sustain strategic oversight. The current Managing Director and Chief Executive Officer of Thomas Cook India, Mahesh Iyer, will take over the operations of the company.
In the third quarter of fiscal year 2025, the company reported an increase of 8% in income that is coming from operations. The company earned around ₹1,893 crore in the third quarter of last year. And this year, at the same time, they reached ₹2,061 crore. The travel company is currently experiencing a decline in its net profit.
Thomas Cook has decided to acquire Nature Trails Resorts Pvt. Ltd., a subsidiary of its owned brand, Sterling Holiday Resorts Ltd. This acquisition will strengthen its portfolio in the eco-tourism and adventure sectors.
