New Thomas Cook chairman opens his account

Frank Meysman has purchased shares in troubled travel company Thomas Cook, the firm he is soon to take charge of.

The Belgium national bought 100,000 shares at 39.09p each for a total of £39,090.

Meysman, 59, was recently announced as the firm's new chairman, and will take over from Michael Beckett when he retires at the end of the year.

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The businessman has most recently occupied the role of executive vice-president of food group Sara Lee. He has also held executive positions at numerous global brand companies, such as household products group Procter & Gamble, and has been a non-executive director, including chairman, of a number of public and private international companies.

When his new role was announced, Meysman said: "The group currently faces a number of significant challenges, but in the medium to longer-term we will be well positioned to build shareholder value on the back of premium brands and a fine heritage in the UK as well as internationally."

Thomas Cook, which has seen its share price fall 77.99% in the past year, recently binned its dividend after reporting that September had been a more challenging month than July and August.

Meysman's purchase marks his confidence in the firm, which has issued three profit warnings this year.

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