Airtours chairman David Crossland to retire
Airtours chairman David Crossland has announced that he is to retire in November 2002. Eric Sanderson, currently non-executive Deputy Chairman, has been appointed as non-executive Chairman Designate to take over the chairmanship of the Board upon Mr Crossland’s retirement.
Commenting on David Crossland’s decision to retire, Tim Byrne, Chief Executive of Airtours plc, said: “The success of the Group and its strength are a testament to David Crossland’s skills as a tour operator and as an inspiration to his management team. Under David’s Chairmanship, I have, as Chief Executive, had his full support in developing the business further. I thank David for this and look forward to his continued support until his retirement in November. I am confident that this team, under my leadership, will continue the tradition of profitable growth that David has established.”
David Crossland said: “I have been in the travel industry for 40 years, I purchased the Company over 30 years ago and have been Chairman of Airtours plc for the past 15 years. I believe it is now the right time to hand over to both Tim Byrne and Eric Sanderson.
“Our Group is in great shape having just delivered record profits last year and I’m pleased to confirm that I have no current intention of reducing my existing shareholding in the Company to any material extent.
“We started to deal with my planned succession by splitting the role of Chairman and CEO 15 months ago. Tim Byrne, who was appointed Chief Executive in November 2000 has built what I believe is the best management team in travel anywhere in the world. Eric Sanderson will become the non-executive Chairman in November. He knows the Group and our industry very well, has great experience and, I believe, will make an outstanding Chairman.
“It goes without saying that I will be sad to leave both the Group and the travel industry, but I am immensely proud of what all of us who work for Airtours plc have achieved. Our most important successes have been to take the number of people employed from 2 in 1972 to 27,000 today and profits from £2,000 in 1972 to £147m last year.
“But we’ve only just begun. Travel is a growth industry. In Europe alone, the number of package holidays sold has increased from 25 million in 1990 to 60 million in 2000 and is expected to rise to 100 million in 2010. We are in an ideal position being one of the most profitable travel businesses in the world. Our philosophy is very simple, we aim to be the best holiday Group to travel with, to work for and to invest in. We have great people and great technology and I am convinced that the future is going to be even more exciting than the past.”
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