Thomas Cook (India) Ltd announced a top-level reorganisation on Wednesday, with Madhavan Menon named Executive Chairman and Mahesh Iyer promoted to Managing Director and Chief Executive Officer.

Thomas Cook (India) said in a regulatory filing that the company's board of directors accepted Menon's re-designation and appointment as Executive Chairman in the category of Whole-Time Director, up from his previous designation as Chairman and Managing Director, at its meeting on Wednesday.

His appointment will be for a new five-year term beginning July 5, 2023, and ending July 4, 2028, and he will not be eligible for retirement by rotation, according to the statement. Furthermore, the board confirmed Menon's continue as Executive Chairman when he turns 70 on February 12, 2025.

The company said its board also approved the re-designation of Iyer as MD and CEO from his earlier designation as Executive Director and CEO. Iyer's re-designation as Managing Director and CEO shall be effective from July 5, 2023, for a fresh term of five years.

The new designations of both Menon and Iyer are subject to the approval of shareholders of the company at the ensuing 46th Annual General Meeting scheduled on August 23, 2023, the filing said.