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MyTravel CEO leaves in 'mutual decision'.
(From FT Investor (Stories))
LONDON (FT.com) - MyTravel, the struggling UK package tour operator, announced on Tuesday that Tim Byrne was stepping down as chief executive.
Last week, the group, formerly known as Airtours, warned on profits for the second time in four months, blaming a change in its revenue recognition policy, leading some analysts to question Mr Byrne's future with MyTravel .
David Crossland, MyTravel's chairman and chief executive who confirmed that he postponed his planned retirement for up to 12 months, had recently backed Mr Byrne. He said he had done "an amazing job" and had his "total confidence".
However, on Tuesday he had changed his mind and said he accepted Mr Byrne's resignation with regret, adding the decision was mutual.
"Tim has made a major contribution to MyTravel over many years," Mr Crossland said. "He achieved record profits in his first year as group CEO and in the last 12 months has led the company through ...
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- Newspaper article from: Sunday Business (London, England) October 6, 2002 700+ words
...him. Whether or not Byrne is the man to blame for...to see a head roll. MyTravel which changed its name...six months. In May, Byrne conceded that he had...latest episode in the MyTravel saga has left Byrnes...influence in the board room. Byrne now looks likely to follow...
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- Magazine article from: Marketing Week October 10, 2002 700+ words
My Travel Group has parted company with group chief executive officer Tim Byrne 'by mutual consent' after its second profits warning in four months. Group chairman and founder David Crossland has postponed his planned retirement for up to 12 months...
- THE troubled UK tour operator, MyTravel, attempted to draw a line under a...
- Newspaper article from: Sunday Business (London, England) October 13, 2002 700+ words
THE troubled UK tour operator, MyTravel, attempted to draw a line under...to sack its chief executive, Tim Byrne. Having issued its second profits...formidable task on his hands, to put MyTravel back on the road to success. Having...
- MyTravel in tailspin over earnings alert.
- Newspaper article from: The Birmingham Post (England) October 1, 2002 700+ words
...should be,' said MyTravel chief executive Tim Byrne. In response to...First Choice for MyTravel. Meanwhile, Mr Byrne said that the group...break even,' Mr Byrne said. David Crossland...chairman and founder of MyTravel, denied the company...
- SUZY IN THE CITY: MYTRAVEL'S pounds 15m SLIP.(Business)
- Newspaper article from: The Mirror (London, England) October 1, 2002 700+ words
...chief executive Tim Byrne that the company...order. Deloitte say MyTravel isn't allowed...year's profits. MyTravel's shares plunged...sell. Yesterday Byrne said he had managed...ANYWHERE, REALLY: MyTravel's Tim Byrne is facing a tough...
- MyTravel chief falls to earth with [pounds sterling]1.3m.
- Newspaper article from: The Daily Mail (London, England) Feltham, Cliff October 9, 2002 700+ words
...CLIFF FELTHAM MYTRAVEL boss Tim Byrne was forced to parachute...time,' said one. MyTravel crashed to its lowest...chief executive Byrne, in the job just...next to leave. Byrne, on a two-year...sterling900,000. MyTravel has twice tried...
- Troubled MyTravel chief steps down.(Business)
- Newspaper article from: Western Mail (Cardiff, Wales) October 9, 2002 700+ words
MYTRAVEL chief executive Tim Byrne paid the price for a turbulent...made a major contribution to MyTravel over many years.'' Mr Byrne left the group on Monday following a board meeting. Shares in MyTravel surged 5.75p to 83.75p...
- MyTravel fined [pounds sterling]240,000; CITY BRIEFING.
- Newspaper article from: The Evening Standard (London, England) July 14, 2005 700+ words
...rules. The FSA found MyTravel's former chief executive, Tim Byrne, and finance director...wholesale business, said: "MyTravel's discovery of the...likely impact...on MyTravel's share price." Byrne and Jardine were not...
