Greenacre steps down from Co-op following merger
Mike Greenacre, managing director of The Co-operative Travel and one of the architects of its joint venture with Thomas Cook, has confirmed that he is leaving the company following Friday's revelation that there was no place for him on either the shareholder or the operating Boards of the merged retail group.
The Co-operative Group chief executive Peter Marks said: "With the announcement of the new senior management structure for the joint venture, Mike Greenacre has decided to step down from his role as managing Director of The Co-operative Travel.
"Mike has dedicated himself to the Co-operative Movement in a variety of roles for 31 years and I would like to thank him for his commitment and achievements in leading our travel business through many years of significant change and growth.
"It was Mike's vision which first identified the potential which a joint venture with Thomas Cook represented for both businesses and I would like to pay tribute to his professionalism in helping bring the joint venture to fruition."
Greenacre said: "I am delighted that the joint venture has now cleared all its hurdles and is set to launch in October.
"The time is now right for me to step down from my role which has been at the heart of my business life for almost 25 years. I have seen this fantastic business grow into a major name on the high street and I wish my colleagues and the joint venture every success in the future."
He said he would continue to play a part in helping and supporting a number of integration issues for the joint venture, but he plans to leave at the end of the year and look for other opportunities within travel.
The merged retail group will be governed by a shareholder Board of seven, chaired by Thomas Cook UK chief executive Ian Ailles and made up of representatives from the Cook, The Co-operative Travel and the third player in the group, Midlands Co-op.
From Cook there will be Phil Aird-Mash, UK chief executive – independent, Michelle MacMahon (UK chief finance officer) and Anne Billson Ross (group and UK human resources director). From The Co-operative Group there will be Martyn Wates (deputy group chief executive) and Gill Barr (marketing director) and from Midlands Co-operative Society Martyn Cheatle (chief executive).
The operating board will be chaired by the joint venture's CEO Simon Robinson. He will be supported by finance director Paul Hemingway from the Co-op wherehe was previously finance director, travel and specialist retail; managing director Joanna Wild, who is currently Thomas Cook managing director, sales; commerical and marketing director Ken Smith, who jons from Midlands Co-op Travel where he is general manager, travel; foreign exchange director Jacqui Holt from Thomas Cook, specialist business director Trevor Davis from the Co-op, integration director Anna Heather from Cook and HR director Rachael Prior, also from Cook.
The merger will be completed on October 4.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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