Further departure at top of Thomas Cook

Rravel firm Thomas Cook has announced that the head of its UK retail division is stepping down, a week after chief executive Manny Fontenla-Novoa departed following the group's third profit warning in a year.

The firm, which is Europe's second biggest tour operator, said Ian Derbyshire was leaving to take the helm at his family's child activity business in north-west England.

It added that he had made the decision to depart earlier in the year but had agreed to stay on while the Competition Commission examined the group's proposed merger with the Co-op's UK travel retail business. That deal was provisionally cleared last month.

Thomas Cook said Simon Robinson, currently had of its UK online business, would take over as chief executive for the Co-op joint venture when the deal is completed in October.

The company is conducting a strategic review of its British business, where sales have been hit by tough economic conditions. Fontenla-Novoa departed following criticism by analysts and investors after the group's latest profit warning in July.