DECKCHAIR.COM founder Bob Geldof has stepped down from the
board of its parent company World Travel Holdings.
The former Boomtown Rats frontman has resigned so he can
concentrate on his musical career. He has retained his stake in the company has
not ruled out returning to the company in future.
World travel Holdings chairman John Biles said: “Because of
the pressure of his touring commitments, Bob Geldof has now decided to resign
from the board of the group but will continue to be available to promote the
brands, give marketing advice and help promote the business, particularly the
Deckchair brand.”
In a further shake-up of the company, finance director Mike
Thomson has also resigned. Biles has taken on his role while group travel
manager Ian Neale has been promoted to general manager, relieving Biles of day
to day management of the company.
The changes were announced as the company released its
results for the year ending December 31, 2001.
The loss for the year was £12.62 million, although it does
expect to make a profit in the second quarter of this year. Sales increased to
£23.67 million, up from £6.19 million in 2000.