Green to leave Premier Farnell to take top job at Thomas Cook

HOLIDAY company Thomas Cook has appointed Premier Farnell chief executive Harriet Green to lead the company in a move it believes can drive the business forward after a troubled period.

Ms Green, who has led Premier Farnell since 2006, will leave the Leeds-based electronics components supplier at the end of July following a hand over period.

Thomas Cook has endured a troubled period over the last few months, which has seen it announce 200 under performing shop closures as it looks to cut debt and restore investor confidence.

More than 600 jobs have been lost as a result of the closures – which since its merger with the Co-operative Group’s travel arm this year – has 1,400 shops. Thomas Cook posted a pre-tax loss of almost £400m last year.

Frank Meysman, Thomas Cook’s chairman, said: “I am delighted to be able to announce the appointment of such an exceptional group CEO. Harriet is an extremely successful executive with the right combination of international, business transformation and ecommerce experience that we need to take the group forward, and build on our strong reputation and brand.

“I am confident that she will be an excellent leader for the group management team as we continue our transformation.”

Ms Green said: “Thomas Cook is an iconic brand in the leisure travel industry. I am very excited to be joining the team at this time, to lead the business forward as we rebuild shareholder value through innovation and a sustained focus on the needs of our customers, suppliers and employees.”

Sam Weihagen will step down as Thomas Cook’s chief executive at the end of July but will remain with the group until September.

Ms Green, who is also a non-executive director of BAE Systems and Emerson Electric Co, has helped Premier Farnell create a multi-channel operation through which the majority of business is now transacted through ecommerce channels.  
 
Premier Farnell’s chief operating officer Laurence Bain will replace Ms Green as chief executive. Mr Bain joined the group in 2002.
 
Nicholas Cadbury, chief financial officer of the group, is to become COO.
 
Val Gooding, Premier Farnell’s chairman, said: “I would like to thank Harriet for her outstanding leadership and the very significant contribution she has made over the last six years to the strategic transformation of Premier Farnell.

“She has led the company to become a global, high service, web business, consistently delivering industry-leading returns across the economic cycles whilst building an excellent team thus ensuring robust management succession.

“The company is now in a considerably stronger position and can look to the future with confidence. We wish Harriet well for the exciting opportunity ahead of her.”
 
Mr Bain added: “I am very positive about the opportunities ahead of us. With continued focus on providing great service to the engineering community, our multichannel strategy, led by the web and growth in emerging markets, I believe that the company can go from strength to strength.”