Thomas Cook CEO Harriet Green has announced her surprise resignation from the travel company.
Cook, who has been at the helm of Thomas Cook for two years, transformed an embattled company with a value of £148m into a £2bn brand.
She is standing down with immediate effect, and will be replaced by chief operating officer Peter Fankhauser.
Green said: “I always said that I would move on to another company with fresh challenges once my work was complete. That time is now.
“I wish all of the team at this re-energised company continued success, as they move to the next phase of the company’s development.”
Thomas Cook’s share price fell from 137p to 109p after the announcement.
BBC business editor Kamal Ahmed said her exit was a “huge shock” in a tweet this morning.
Huge shock. Harriet Green has stepped down as chief executive of Thomas Cook
— Kamal Ahmed (@bbckamal) November 26, 2014
Thomas Cook share price Day Harriet Green took over 16p Departure announced 2 year later 137p 5 minutes after that 109p
— Adam Parsons (@AdamParsons1) November 26, 2014