Thomas Cook India to undergo restructure into four verticals

Thomas Cook India (TCIL) will undertake a corporate restructuring, subject to regulatory approvals, that is aimed at streamlining its businesses into four key verticals.

The verticals include, travel (outbound, domestic, business travel and MICE), foreign exchange, destination management services and portfolio investments such as Sterling Holiday Resorts.

The restructuring also involves the consolidating of the human resource services business into Quess Corp.

Madhavan Menon, chairman and managing director, TCIL, said in a statement: “This proposed restructuring with the realignment of the travel businesses of TCIL and consolidation of the human resource services business into Quess Corp will simplify the group structure, enabling both TCIL and Quess to grow independently and consolidate their positions in their segments with far greater clarity of focus from an industry and growth/opportunity point of view – for investors, management and teams.”

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