Thomas Cook Appoints New CEO

Tourism company Thomas Cook AG, Europe´s second-biggest travel operator, informed that former T-Online boss Thomas Holtrop will become the company´s chief executive.

Mr. Holtrop resigned last year as chief executive of T-Online, Deutsche Telekom´s Internet arm. He will join Oberursel-based Thomas Cook´s board of directors in September before becoming the new CEO on Nov. 1.

Current Chief Executive Wolfgang Beeser, who was brought in to help reverse the company´s slide last year, will become a member of the supervisory board.

The company is jointly owned by German airline Lufthansa and retailer KarstadtQuelle AG, both of which have said they have no plans to sell the travel operator.