Tthe value of the company plunged by 75% on the stock exchange making it worth just £87m. In a message on Twitter, the embattled tour operator said: "Thomas Cook reassures all customers it is business as usual. Our holidays are fully protected and can be booked with complete confidence."
"Companies want to be leader-proof. They don't want the companies to fall apart if the leader gets run over by a bus. But they do want to have the brand and charisma that comes with strong and detailed leadership," says Prof Nicholson.