The Co-operative Travel has confirmed that managing director Mike Greenacre will step down at the end of the year.
Greenacre had been expected to take a prominent role in running the new retail joint venture with Thomas Cook and Midlands Co-op Travel, to be established next month. However, Greenacre’s name was conspicuous by its absence from the shareholder and operating boards of the merged business announced today.
His departure will end a career of more than 30 years at the Co-op. Greenacre said he would seek to remain in the travel industry.
The Co-operative Group chief executive Peter Marks said: “It was Mike’s vision which first identified the potential which a joint venture with Thomas Cook represented and I would like to pay tribute to his professionalism in helping bring the joint venture to fruition.”
He added: “Mike has dedicated himself to the Co-operative movement in a variety of roles for 31 years and I thank him for his commitment and achievements in leading our travel business through many years of significant change and growth.”
Greenacre said: “I am delighted the joint venture has now cleared all its hurdles and is set to launch in October. The time is right for me to step down from my role which has been at the heart of my business life for almost 25 years. I wish my colleagues and the joint venture every success.”
He added: “I will continue to play a part in helping and supporting on a number of integration issues for the joint venture and plan to leave the business at the end of the year, but will be looking for new opportunities within the travel industry.”