THOMAS COOK INDIA ANNOUNCES CHANGES TO ITS BOARD OF DIRECTORS
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Thomas Cook (India) has announced the appointment of Sunil B. Mathur and Nilesh S.Vikamsey as Additional Non–Executive Director (Independent).
The company also accepted the resignation of Mahendra Kumar Sharma, Non–Executive Chairman (Independent) w.e.f. close of business hours of December 31, 2015. The Board expressed sincere appreciation for the valuable contribution and services rendered by Sharma.
It also announced the appointment of Madhavan Menon as Chairman and re-designated him as Chairman and Managing Director w.e.f. January 1, 2016. Commenting on the announcements, Prem Watsa, Chairman & CEO, Fairfax Financial Holdings, said, “I am delighted to welcome our new Additional Non-Executive Independent Directors- Mr. Sunil Mathur and Mr. NileshVikamsey; their expertise and experience will certainly add valuable guidance and support to The Thomas Cook India Board.”
He added, “Mr. Sharma has played a pivotal role as Chairman and we are deeply grateful for his immense contributions: his insights and direction have always been of the highest order.”
Watsa concluded by stating, “Mr. Madhavan Menon, having steered the Company admirably as Managing Director since 2006, will now take over as Chairman & Managing Director of Thomas Cook (India) Ltd. He enjoys our full confidence and faith and we wish him continued successes in his new role.”