Thomas Cook chief quits
November 26, 2014Green said Wednesday she was leaving the 173-year-old company after just two years at its helm.
Green was brought in to restructure the firm after it was forced to resort to 200 million pounds ($314 million, 252 million euros) in survival assistance from its partner banks.
"I always said I would move on to another company with fresh challenges once my work was complete," Green said in a statement. "That time is now."
Green will be replaced by Chief Operating Officer Peter Fankhauser.
Tough market environment
Green managed to transform a failing tour operator into a solid company by cutting costs. She closed a large number of shops, reduced Thomas Cook's air fleet and sold hotels.
The company was recently worth 2 billion pounds, up from the mere 148 million pounds it was valued at in July 2012.
Shares in Thomas Cook lost more than 20 percent of their value in Wednesday morning trading, following Green's surprise move. But analysts said the plunge was primarily due to the company having posted a pre-tax loss of 114 million pounds for the year to the end of September.
The firm had warned the depressed state of the travel market, particularly in Germany and France, would make trading conditions difficult in the years ahead.
hg/cjc (dpa, AP)