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Thomas Cook bosses to be quizzed by MPs over collapse

Former Thomas Cook bosses have been called to appear before MPs to be quizzed on the collapse of the company.

The Commons business, energy and industrial strategy committee will question chief executive Peter Fankhauser and chairman Frank Meysman.

Chief financial officer Sten Daugaard and the chairs of the failed company’s audit and remuneration committees have also been called to appear in Westminster on Tuesday morning.


MoreThe Interview: Peter Fankhauser says he feels ‘responsible’ for failure of Thomas Cook


The committee will question previous CEOs Harriet Green and Manny Fontenla-Novoa in future weeks, although dates for their appearances have not yet been confirmed.

Others due to face the committee chaired by Labour MP Rachel Reeves include Thomas Cook auditors PwC and EY on October 22.

The Financial Reporting Council and Insolvency Service, which are carrying out their own investigations into the failure of indebted Thomas Cook, will give evidence.

The committee will also hear from Manuel Cortes, general secretary of the Transport Salaried Staffs’ Association, which represented Thomas Cook shop and head office staff.

The inquiry is focused on issues around the stewardship of the company, executive pay, accounting practices and the role of auditors.

A committee spokesman said: “Tuesday morning’s evidence hearing is expected to focus on questions around Thomas Cook’s rescue plan, corporate governance and the role of the Thomas Cook board, the debt taken on by the company, accounting practices, and the setting of CEO pay.”

MoreThe Interview: Peter Fankhauser says he feels ‘responsible’ for failure of Thomas Cook

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