New MyTravel boss ‘confident’ of turnaround
The new man to take charge of troubled MyTravel has expressed confidence in reviving the business. Michael Beckett, chairman of casino group London Clubs International, is to take over as executive chairman at MyTravel from Eric Sanderson, who retires at the company’s AGM on March 22. The company, which has the Airtours and Going Places brands as part of its portfolio, has suffered from a series of profits warnings and the departure of ranks of senior management over the past two years, including founder David Crossland. MyTravel, which has debts of £1.3 billion and £220 million of convertable bonds, has been undergoing a restructuring, including a series of disposals. Mr Beckett said: “I am well aware of the challenges facing the business but I am confident we can succeed as the turnaround is well underway.” MyTravel chief executive Peter McHugh said Mr Becket would bring “a wealth of experience” to the role. Report by Phil Davies
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