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The announcement came as part of the formal opening of the 37th PATA Travel Mart in Cambodia.
His final event for PATA will be moderating a panel at a pre-G20 travel conference in Brisbane on November 13.?
Current chief operating officer Mario Hardy is to step in as interim CEO from November 1.
Craigs said: “I will let others that I respect be the judge of the next generation transformation that has been delivered in the past three years.
“Rest assured it has been a pleasure to take PATA back to the top table and into profit.”