Thomas Holtrop new Chairman and CEO of Thomas Cook

At its meeting today, the Supervisory Board of Thomas Cook AG appointed Thomas Holtrop (50) as the new Chairman and CEO of Thomas Cook AG. Thomas Holtrop will join the Executive Board of the leisure travel group with effect from 1 September 2005 and take over at the helm of the four-member Executive Board on 1 November 2005. The present Chairman and CEO Wolfgang Beeser will then move to the Supervisory Board.

“The group is on the right path. Its restructuring programme is well underway and must be firmly continued. The well-prepared transition from Wolfgang Beeser to Thomas Holtrop at the head of the group ensures continuity and is an important signal for our business partners and customers, for the staff and financial markets,“ said the Thomas Cook Supervisory Board Chairman, Jürgen Weber.

With the appointment of Thomas Holtrop, Thomas Cook AG will be led by an internationally experienced manager. From 2001 to 2004, he belonged to top management at Deutsche Telekom AG and was, from 2003 until he left the group a member of its Executive Board. As Chairman of T-Online AG, he led the company with entrepreneurial foresight and vision in its rapid evolution into one of Europe’s leading online portals. He spearheaded major trends leading to the economic viability of the online market and the successful marketing of new and innovative media portals.

Prior to joining Deutsche Telekom AG, Thomas Holtrop gained extensive professional experience from working, since 1981, in the tourist and related businesses. He began his career at Club Méditerranée Deutschland and subsequently took over as head of marketing and sales Europe at Robinson Hotels GmbH.

From 1989 to 1996, Thomas Holtrop held senior management positions at American Express International Inc. in London, Frankfurt and New York in sales, marketing and communications. He was latterly Vice President International Business Partners there and a member of the International Executive Committee. Between 1996 and 2000, Thomas Holtrop he played a major role at Deutsche Bank AG in the establishment of Bank 24, initially as executive manager and, from 1997, as a member of the Executive board of Deutsche Bank 24. He moved to Deutsche Telekom AG in 2001.

Thomas Holtrop has been seated on the Supervisory Board of Gruner + Jahr since 2005.