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204:. He admitted that Thomas Cook "failed to show compassion" following calls to boycott the company over its behaviour. He took changed the direction and focus of Thomas Cook on prioritising customer seevice, transformed it into a customer centric business. He was reinventing Thomas Cook by launching new Hotel concepts like Casa Cook and Cooks Club and expanded into China the fastest growing travel market in the world.
247:. Fankhauser apologised to colleagues and customers for the "deeply sad day", but blamed banks for its collapse stating that "an additional facility requested in the last few days of negotiations presented a challenge that ultimately proved insurmountable." Hedge funds have also been noted as major beneficiaries of the events, with "Thomas Cook the most shorted company on the
223:, who insisted that the Group be sufficiently recapitalised to ensure operations were protected through to January, when bookings are traditionally quieter and liquidity would be challenging. This demand meant the group needed an extra £200 million guarantee to keep the company operational. These efforts did not succeed, with the UK Government
234:
response to any bankruptcy, which he said was "on track so far" and "running smoothly". Media reports indicated that a group including the
Turkish government and a group of Spanish hoteliers backed by Spanish ministers had offered financial support in order to assist their domestic industries, but
261:, its chair calling his apology "rather hollow". On 12 January 2022 Sky reported that the Group's executives have been cleared by the Insolvency Service after a two-year probe. The Service had decided to take no further action against former directors of Thomas Cook.
242:
temporarily ceased operations, while other sister companies suspended or continued operations, depending on their corporate relationship. The liquidation left 150,000 British tourists in need of repatriation, the largest such case in
British history, ahead of the
188:
in 2001. He led the German business of Thomas Cook, expanded and made it the most profitable tour operator in
Germany. He was promoted to chief operating officer in November 2013. In November 2014, it was announced that
770:
346:
196:
Fankhauser received £8.3 million worth of pay since becoming CEO, including a £2.9 million bonus in 2015. During that year, he faced criticism of how Thomas Cook handled the
207:
Thomas Cook was subject to widespread speculation about its financial position throughout 2019. By
September the company had secured £900 million in funding as part of a
722:
287:
238:
In the morning of 23 September the company declared bankruptcy and entered compulsory liquidation, which took effect at all Thomas Cook Group UK companies.
235:
that the rescue had failed because "the
British government said it was not prepared to provide any financial guarantees to underpin the funding package."
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Fankhauser is now a professor at the
University of St. Gallen and a managing partner in a consultancy company specialised in transformation.
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stating that they would not step in to provide a state guarantiee of £200 million, instead stating it would only support the
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30:
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Frankfurter
Allgemeine Zeitung, FAZ, (2012-10-04), p. 16; Frankfurter Allgemeine Zeitung, (2013-11-08), p.20
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in political science. He was once an aerobics teacher and a national-level gymnast on the Swiss 'B' team.
892:"Peter Fankhauser | Executive School | Weiterbildung, MBA und Executive MBA an der Universität St.Gallen"
248:
158:
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was to leave Thomas Cook Group with immediate effect, and that
Fankhauser would take over as CEO.
723:"What Killed Thomas Cook? Brexit And Decline Of Package Holidays Undercut Venerable Travel Brand"
141:(born 18 November 1960) is a Swiss businessman, who was the chief executive officer (CEO) of the
803:
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185:
173:
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484:"The Thomas Cook bosses who received £20m in bonuses in last 5 years as company collapsed"
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220:
915:
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771:"China-owned travel giant Thomas Cook collapses; UK to rescue stranded holidaymakers"
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106:
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633:"Transport Minister Explains Why The Government Refused To Bail Out Thomas Cook"
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He was responsible for managing the
European division of the tourism company
335:[Peter Fankhauser – his last pull-ups at Thomas Cook] (in German).
215:. Despite this, a late demand emerged from funders of the Group including
866:
211:
swap, including a £450 million investment from
Chinese travel group
316:[Peter Fankhauser, the tank captain who sank Thomas Cook].
201:
458:"Thomas Cook shares crash amid shock departure of Harriet Green"
314:"Peter Fankhauser, el capitán de tanques que hundió Thomas Cook"
154:
57:
568:"Thomas Cook races to raise extra £200m to secure rescue deal"
254:
In October 2019 Fankhauser was criticised at a hearing of the
794:
Osborne, Dominic Walsh | Ben Martin | Alistair (2019-09-23).
601:"Thomas Cook, led by Peter Fankhauser, in last-ditch meeting"
333:"Peter Fankhauser – seine letzten Klimmzüge bei Thomas Cook"
288:"I learnt a lesson from our crisis: don't listen to lawyers"
828:"Thomas Cook collapse set to net hedge funds millions"
661:"UK ministers accused of sealing Thomas Cook's fate"
120:
112:
102:
94:
83:
75:
65:
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21:
259:Business, Energy and Industrial Strategy Committee
853:"Thomas Cook ex-boss grilled over £500,000 bonus"
16:Swiss businessman, CEO of the Thomas Cook Group
855:. October 15, 2019 – via www.bbc.co.uk.
281:
279:
8:
796:"Thomas Cook boss blames banks for collapse"
747:"Thomas Cook chief says he's 'deeply sorry'"
693:"Thomas Cook enters compulsory liquidation"
566:Butler, Sarah; Farrell, Sean (2019-09-19).
482:Ward, Victoria; Gill, Oliver (2019-09-22).
153:Fankhauser was born on 18 November 1960 in
29:
18:
134:Fankhauser at the WTTC Global Summit 2017
659:Davies, Rob; Topham, Gwyn (2019-09-23).
129:
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557:
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402:"Harriet Green: how to be a superboss"
145:from 2014 until its collapse in 2019.
400:Whitworth, Damian (18 October 2014).
331:Torcasso, David (23 September 2019).
7:
417:
415:
312:Zamora, Susana (30 September 2019).
548:"Mail on Sunday". 24 December 2017.
172:and worked for the leisure airline
456:Farrell, Sean (26 November 2014).
14:
245:2017 collapse of Monarch Airlines
240:Thomas Cook Airlines Scandinavia
225:Secretary of State for Transport
937:University of St. Gallen alumni
526:"Sunday Times UK". 15 May 2016.
515:"Tavelweekly". 24 January 2016.
599:Meddings, Sabah (2019-09-22).
161:. He has a doctorate from the
98:November 2014 – September 2019
1:
286:Arlidge, John (15 May 2016).
699:. 2019-09-23. Archived from
537:"FT Weekend". 5 August 2017.
424:"Thomas Cook | Media Centre"
217:Royal Bank of Scotland Group
116:None, compulsory liquidation
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251:" prior to the collapse.
28:
232:Civil Aviation Authority
163:University of St. Gallen
70:University of St. Gallen
428:www.thomascookgroup.com
381:Skift Forum Europe 2019
932:Swiss chief executives
198:deaths of two children
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703:on September 23, 2019
249:London Stock Exchange
200:whilst on holiday in
149:Early life and career
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775:www.businesstoday.in
357:on November 26, 2014
213:Fosun International
377:"Peter Fankhauser"
347:"Peter Fankhauser"
184:Fankhauser joined
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35:Fankhauser in 2018
186:Thomas Cook Group
180:Thomas Cook Group
143:Thomas Cook Group
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899:. Retrieved
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834:. 2019-09-23
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701:the original
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665:The Guardian
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572:The Guardian
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355:the original
351:Businessweek
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228:Grant Shapps
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176:in Germany.
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87:Former CEO,
922:1960 births
873:(in German)
467:26 November
361:26 November
103:Predecessor
79:Businessman
916:Categories
901:2021-09-27
877:2021-09-27
867:"Über uns"
838:2019-09-23
813:2019-09-23
780:2019-09-23
756:2019-09-23
732:2019-09-23
707:2019-09-23
678:2019-09-23
642:2019-09-23
618:2019-09-23
585:2019-09-23
501:2019-09-23
433:2019-09-23
386:2019-09-23
318:Diario Sur
270:References
76:Occupation
47:1960-11-18
808:0140-0460
800:The Times
673:0261-3077
613:0956-1382
580:0261-3077
496:0307-1235
406:The Times
113:Successor
66:Education
751:BBC News
297:6 August
159:Burgdorf
121:Children
697:Reuters
221:Halifax
871:Manres
832:CityAM
806:
727:Forbes
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202:Corfu
170:Kuoni
84:Title
804:ISSN
669:ISSN
609:ISSN
576:ISSN
492:ISSN
469:2014
363:2014
299:2024
219:and
155:Trub
95:Term
58:Trub
41:Born
637:LBC
174:LTU
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