New hand on the tiller at Travelzest

Upmarket holiday firm Travelzest has a new hand on the tiller, after Chairman Mark Molyneux abruptly gave up the chair to non-executive director Nigel Jenkins.

Molyneux will remain on the board as a non-executive director, effectively swapping roles with Jenkins.

Jenkins has been a non-executive director of Travelzest since April 2010, and has plenty of industry experience, having held positions with All Leisure Group, Unijet Travel and First Choice Holidays. At First Choice he led the restructure and turnaround of their Canadian division before returning to the UK in 2004.

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"Nigel has been instrumental in the recent restructuring of the Travelzest group and we look forward to him playing a more pivotal role in the business," said Molyneux.

The company also revealed that Adrian Cobboldwill will take on the role of Finance Director, allowing Jack Fraser to concentrate on his duties as Chief Operating Officer.

Cobboldwill joined Travelzest in November 2010 as Group Executive Vice President of Finance.

"We are now structured to take advantage of the significant growth opportunities available to us in our key market of Canada," claimed Jenkins.

The shares were unmoved by the change at the top.