Thomas Cook mainstream chief executive Ian Ailles and independent business chief executive Phil Aird-Mash are to leave the company at the end of the year.
The departures were announced to staff by UK & Continental Europe chief executive Peter Fankhauser, who officially took up the newly created role on November 1 having previously overseen Cook’s continental business
When Fankhauser’s appointment was announced in October, it was confirmed that Ailles and Aird-Mash would be reporting into him.
But there was widespread speculation that the new structure created by group chief executive Harriet Green could signal their departures.
Ailles will continue to run the UK & Ireland business with Fankhauser until the end of the year to ensure a smooth handover, and his direct reports will continue to report to him in the interim.
Fankhauser said: “We are at an important point in the evolution of our UK business and will be accelerating our turnaround plan to benefit from the positive momentum already created. Thomas Cook remains a brand synonymous with quality leisure travel and customer care and we will continue to build upon this reputation.
“I’d like to thank both Ian and Phil for their work in laying the foundations of our UK transformation and for their personal commitment to the company. We wish them both well in their future business endeavours.”
Steve Barrass, deputy managing director of Thomas Cook scheduled business, will continue to run the division.
A Thomas Cook spokesperson added: “We have been very open about the fact that we are undertaking a wide reaching business review as part of our on-going transformation, with a particular focus on our UK operation.”