Pennycook takes non-exec role at Thomas Cook
Outgoing WM Morrison FD adds to his directorship portfolio
By CFOWorld.co.uk staff | CFO UK | Published 15:52, 01 February 13
Outgoing WM Morrison finance director Richard Pennycook has accepted a non-executive director role with Thomas Cook.
Pennycook tendered his resignation at WM Morrison in June 2012 and will be stepping down in June this year. The Thomas Cook appointment would be the third directorship in his portfolio.
In October 2012, it was announced that Pennycook would take a non-executive role at The Hut Group. He is also a senior independent director and chairman of the audit committee of Persimmon.
Prior to his finance directorship at WM Morrison, Pennycook was the group finance director at the RAC. He has also held senior finance positions at HP Bulmer, Laura Ashley, JD Wetherspoon and Welcome Break Holdings.
Frank Meysman, chairman of Thomas Cook, said, "Richard has a wealth of financial and consumer sector experience. In addition, at Wm Morrison he was integral to its transformation following the Safeway acquisition and his specific responsibilities included multi-channel development, a key area of focus for us. I am extremely pleased that he has agreed to join the board."
In response, Pennycook said, "I am delighted to be joining the board of Thomas Cook, which has an esteemed heritage and a truly world class brand. It is an exciting time to be joining, as the company undergoes a business transformation and is developing its strategy for the future."
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