The departure of the CEO will be the big news in these Thomas Cook figures – having arrived when the company was in the departure lounge and trading at 14p, she leaves it in a much sunnier disposition. Investors will be right to ask questions over how her departure will affect the turnaround plan, so expect much of the price reaction today to be in connection to this.
The other issue is the turnaround plan – the warning that growth will be more moderate (i.e. slower) in the coming year is a sign that the easy bit has been done. Expectations of further improvement are now baked into the price, although the signs of growth at the newly-improved web platform should provide a useful growth engine.
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