Thomas Cook (India) Ltd, a provider of travel services, announced a top-level reorganization with Mahesh Iyer being promoted to Managing Director and the Chief Executive Officer and Madhavan Menon being named Executive Chairman. Menon was previously designated as Chairman and Managing Director, but the company's board of directors recently accepted his re-designation and appointment as Executive Chairman in the category of Whole-Time Director, Thomas Cook (India) said in a regulatory filing.
He will be appointed for a new five-year term starting on July 5, 2023, and ending on July 4, 2028, and he will not be subject to rotational retirement, according to the statement. Additionally, the board confirmed Menon's continuing as executive chairman when he turned 70 on February 12, 2025, while he was still serving on the board.
The business said that its board had also accepted Iyer's reclassification from Executive Director and CEO to MD and CEO. From July 5, 2023, Iyer will once again serve as Managing Director and CEO for a period of five years.
The 46th Annual General Meeting of the firm, slated for August 23, 2023, will decide whether or not to approve the new designations of Menon and Iyer, according to the petition.