Co-operative Travel managing director steps down after merger
The managing director of The Co-operative Travel is stepping down as part of a boardroom shake-up linked to its high street merger with Thomas Cook and Midlands Co-op Travel.
Mike Greenacre will leave the business at the end of the year as part of the tie-up, which is set to fully complete on October 4 after being given clearance by the Competition Commission.
The three-way merger will create the UK’s largest high street travel agent and second largest foreign exchange group, with more than 1,200 outlets.
Mr Greenacre said: “I am delighted that the joint venture has now cleared all its hurdles and is set to launch in October. The time is now right for me to step down from my role which has been at the heart of my business life for almost 25 years. I have seen this fantastic business grow into a major name on the high street and I wish my colleagues and the joint venture every success in the future.
“I will continue to play a part in helping and supporting on a number of integration issues for the joint venture and plan to leave the business at the end of the year but will be looking for new opportunities within the travel industry.”
Thomas Cook chief top dog Ian Derbyshire said: "Research has proved, in these continued times of decline, just how sacrosanct an foreign holiday is to and more »
