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

Madhavan Menon has retired from Thomas Cook after 25 years, continuing as non-executive chairman. Mahesh Iyer will now oversee operations as managing director and CEO. During Menon's tenure, Thomas Cook expanded across 28 countries and acquired brands like SOTC and SITA Travels. The company was taken over by Fairfax Financial Holdings in 2012 for $150 million.