Thomas Cook Group deputy chief executive Sam Weihagen is relinquishing his role as chief executive of Northern Europe but is staying on in a part-time role.
Weihagen is becoming chairman, Northern Europe and will be succeeded in the role of chief executive Northern Europe by the region’s current chief operating officer Lars Lofgren from January 1.
The changes will see Weihagen reduce his time commitment to two and a half days a week and retire at the end of 2011.
He will remain in his role as deputy to the group chief executive and continue as a member of both the plc board and group executive board until then.
Weihagen will chair the Thomas Cook AG board in Germany and retain responsibility for group IT, as well as lending his support to the overall running of the business.
Thomas Cook Group chairman Michael Beckett said: “The board benefits from Sam’s extensive knowledge of the global travel industry and we are pleased that he will continue to serve for a further year.”
Chief executive Manny Fontenla-Novoa added: “I am delighted that Sam has agreed to remain with us for a further year.
“In line with our succession strategy I am very pleased that Lars Lofgren, who has successfully demonstrated his ability to lead our Northern Europe segment, will join our group executive board.”