Thomas Cook’s Madhavan Menon to retire, will continue as non-executive chairman

Thomas Cook’s chairman Madhavan Menon has retired from the company after 25 years of service. He will continue as the company’s non-executive chairman, as per a company release.

The company’s current managing director and chief executive officer Mahesh Iyer will oversee operations from now on.

Menon’s tenure saw Thomas Cook make multiple acquisitions and bring several marquee travel brands into its portfolio such as SOTC, SITA Travels, Asian Trails, Desert Adventures, Allied TPro, Australian Tours Management and Sterling Holiday Resorts amongst others.


Thomas Cook India’s operations now span 28 countries and 5 continents.

It offers services across foreign exchange, corporate travel, meetings, incentive travel, conferences, exhibitions and leisure travel.

The company was taken over by Fairfax Financial Holdings in 2012 for a sum of $150 million.

Under Menon’s leadership the company acquired notable travel brands from the Kuoni group which took its expanse from four countries – India, Mauritius, Sri Lanka and Hong Kong - to over 21 countries. The acquisition of brands took place in 2017. Brands such as Allied TPro that were acquired from Kuoni gave it a presence in North America while others such as Australian Tours Management and Desert Adventures which were earlier part of Kuoni expanded its footprint in Australia and the middle east and north Africa.

Thomas Cook India has turnover of nearly Rs. 8000 crore.

Menon is on the boards of other Fairfax group companies such as CSB Bank. He is also the chairman of Fairfax India Charitable Foundation.

Menon started his career at Grindlays Bank and worked for Citibank, Emirates Bank and Birla Sunlife Asset Management Company before joining Thomas Cook in 2000.