Mall of America

Published on Friday, October 11, 2019

MPs to quiz Fontenla-Novoa and Green over Thomas Cook collapse

Thomas Cook's former chief executives Manny Fontenla-Novoa and Harriet Green will be quizzed by MPs investigating the company's collapse.

However, the first people to be questioned will be the leadership team at the time of the failure, including chief executive Peter Fankhauser.

The Business, Energy and Industrial Strategyselect committee will grill Fankhauser, chairman Frank Meysman, chief financial officer Sten Daugaard, and the head of Thomas Cook's remuneration committee Warren Tucker at a session next Tuesday.

The committee, chaired by the Labour MP Rachel Reeves, is expected to focus on executive salaries, corporate governance, the firm's high debts and the role of its auditors.

PwC, Thomas Cook's auditor until 2017, will give evidence, as will the Financial Reporting Council and the government's Insolvency Service, which is managing the company's liquidation.

Manuel Cortes, the general secretary of the transport workers' union TSSA, will also be involved in the inquiry.

Fonenla-Novoa, who was in charge of the company from 2003 to 2011, and Green, who led the company for two years following his departure until she was replaced by Fankhauser, will be called to give evidence at a later, as yet unconfirmed date.

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  • they might just say

    get stuffed. They don't have to appear. It's not a court.

    By Michael Anderson, Friday, October 11, 2019

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