The board of directors of the company has appointed "Madhavan Menon as Chairman and re-designated him as Chairman and Managing Director with effect from January 1, 2016," Thomas Cook India said in a filing to the BSE.

The board also announced the appointment of Sunil B Mathur and Nilesh S Vikamsey as additional non-executive independent directors of the company, effective December 23, 2015, it added.

Commenting on the announcements, Fairfax Financial Holdings Chairman & CEO Prem Watsa said: "Madhavan Menon, having steered the company admirably as Managing Director since 2006, will now take over as Chairman & Managing Director of Thomas Cook (India) Ltd."

Thomas Cook (India) is promoted by Fairfax Financial Holdings Ltd through its wholly-owned subsidiary, Fairbridge Capital (Mauritius) Ltd and its controlled affiliates.

Shares of Thomas Cook India were trading at Rs 206.40 per scrip in the afternoon trade on BSE, down 0.63 percent from the previous close.

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