Thomas Cook CFO departs, Healy named as successor

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THOMAS Cook confirmed the departure of its chief financial officer Paul Hollingworth today, naming former Kwik-Fit finance director Michael Healy as his replacement.

Mr Hollingworth, who has been with the debt-laden tour operator for two years, will leave at the end of June having recently helped the group seal its third refinancing in 12 months with a three-year funding lifeline worth £1.4bn.

In a statement, Thomas Cook said Mr Hollingworth had decided to leave the group.

Mr Healy, who prior to working at car repair firm Kwik-Fit was finance director and chief operating officer of Hong Kong listed First Pacific Company, will start the new role on July 1.

Thomas Cook warned on its profits three times last year as civil unrest in North Africa and the economic downturn in Britain hurt bookings, and it has been forced to consider a number of fundraising proposals.

The 170-year-old firm is also searching for a new chief executive, following the departure of Manny Fontenla-Novoa in August.