| Journal: TWUK | Section: |
| Title: | Issue Date: 22/05/00 |
| Author: | Page Number: 2 |
| Copyright: Other |
Objectives
Deal helps Gurassa to achieve growth plans
THOMSON Travel Group chief executive Charles Gurassa said the company’s purchase by Preussag has, in one stroke, achieved many of his goals for the operator.“When I joined my objectives were for a robust plan for growth, to push up the share price and to put Thomson in a leading position,” said Gurassa. “This deal achieves the last two aims and helps us to achieve the first.”
Gurassa said it was a good deal for customers and also for his staff, who were guaranteed security in the future. Gurassa stands to receive a one-off payment of nearly £1.3m from the sale to Preussag because he has 1.6m share options redeemable at £1 per share. He plans to stay on for six months and then review his position.
Frenzel said he was satisfied with the Thomson management and their strategy and they would all be staying on under the new ownership.
Gurassa denied that increased consolidation throughout Europe would lead to smaller companies being squeezed out of the market and a reduction in competition.
“The ability to market in different companies will increase choice and lead to new products and concepts being developed,” he said.