Thomas Cook (India) restructuring to focus on four verticals

The Board of Thomas Cook (India) (TCIL) has approved (subject to regulatory approvals) a corporate restructuring exercise aimed at streamlining its businesses into four key verticals namely, Travel (outbound, domestic, business travel & MiCE), Foreign Exchange, Destination Management Services and Portfolio Investments such as Sterling Holiday Resorts.
In its current structure, TCIL along with its subsidiaries and associate companies such as SOTC, TCI, TC Travel (earlier Tata Capital Travel) and Sterling Holidays are engaged in various travel and travel-related financial services, vacation ownership and resorts while Quess Corp is engaged in human resource and business related services such as industrial asset management, integrated facility management, and technology solutions. In order to streamline the various businesses of the group, both from operating and management perspective, the restructuring will consolidate like businesses into identified entities creating a simpler and more efficient operating structure with dedicated and focused business verticals.
Madhavan Menon, Chairman & Managing Director, TCIL said, “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’s 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.”