New Thomas Cook boss buys shares in the company
Thomas Cook's incoming chairman Frank Meysman signaled his confidence in the troubled company by purchasing 100,000 shares yesterday.
The Belgian bought the shares at 39.09p each for a total of £39,090.
Meysman will take over from Thomas Cook chairman Michael Beckett when he retires at the end of the year. He was most recently executive vice-president of the food group Sara Lee but has also held executive positions at several other global companies such as Procter & Gamble.
On accepting the role at Thomas Cook, Meysman admitted the travel company "faced significant challenges" but said it was well positioned to build shareholder value on the back of its premium brands.
Thomas Cook recently announced it was suspending dividend payments after revealing that September had been a challenging month. Its share price has fallen 77.99% in the past year.
By Linsey McNeill
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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