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Chairman of The Monarch Group, Hugh Morgan, has stepped down as chairman of the company after 12 years.
Morgan joined Monarch Group in 2002 as overseas purchasing and operations director for Cosmos Holidays and held director-level positions at Thomas Cook, Sunset Holidays, ILG and Intasun Holidays. Morgan is also a board director of ABTA.
His departure comes as Monarch recently announced that Greybull Capital will acquire the travel group and switch the airline’s focus to the low-cost carrier market from a charter airline.
Thousands of jobs and pay cuts are expected across the company as Greybull looks to strip costs in order to establish itself as a low-cost carrier.
Andrew Swaffield, chief executive officer, The Monarch Group, said: “Hugh has been a leading figure in the travel industry for many years and I would like to thank him for his significant contribution to the Monarch Travel Group over the last 12 years.
“We are very lucky to have had such a well-respected and experienced travel professional leading one of our group companies.
“Despite only working with him personally for a short period of his long career with us, Hugh has been a pleasure to work with and I know he will be sorely missed. I wish him every success for the future.”
The Monarch Travel Group, part of the same travel group as Cosmos Holidays, started business in Bromley 53 years ago and currently sends 900,000 UK customers on holiday every year.