With over three decades of dedication, insight, and steady leadership, he has stepped into his new role as CEO & Managing Director of our company—a natural transition shaped by years of mentorship under our recently retired Chairman. His journey is as inspiring as it is grounded, having grown within the organisation, witnessed its evolution and contributed significantly to its growth.
Armed with a Master’s in Marketing Management from JBIMS (Mumbai), and a Business Management Degree from IIM-Calcutta, he literally started his ‘love affair’ with Thomas Cook in February 1994, on Valentine’s Day (!), joining as a Management Trainee.
He then steadily transitioned as Regional Manager, Head of Foreign Exchange, Head of Strategy & Commercial, then on to becoming COO, CEO, and ED in May 2018. In July 2023, he was appointed MD & CEO of Thomas Cook India.
Today he has reached the top as MD & CEO of the Thomas Cook (India) Ltd. Group.
He is Mahesh Iyer.
In this candid conversation, he reflects on the path ahead, the values he holds dear, and the vision he brings to this next phase. From leadership goals to industry challenges—and a few personal snippets along the way. This interview offers a glimpse into the mind and heart of the man now at the helm.
As he takes on this new mantle, Mahesh does so with humility, clarity, and a deep sense of responsibility. His journey from within the ranks to the top job is a testament to perseverance, passion, and purpose—and a reassuring sign that the company’s future is in steady hands.
We wish him every success, bold thinking, and deep fulfilment in the exciting journey that lies ahead. May this new chapter be as remarkable as the path that brought him here.
We flung a bunch of questions at him…. so everyone could get to know him better, so here he is!
So how does it feel, Mahesh? You have been with the company for 31 years, and have now stepped into the role of MD & CEO. You have, indeed, come a long way from the day you joined as a Management Trainee in Thomas Cook. What are your thoughts as you take over from someone who you say has also been your mentor along the way?
To be quite honest, none of this is what I dreamt of or planned for 31 years ago!
To start as a Management Trainee, and now to helm the Group, means enormous responsibility and trust. I feel humbled and privileged to have been given this task to take the Thomas Group to the next level of growth and glory. Madhavan has been, and will continue to be, a great mentor, and I feel fortunate that I got the opportunity to work and learn from him for all the 25 years he has been with Thomas Cook.
At the same time, every leader brings their own stamp. How are you different? What are the first few things you would like to focus on as MD & CEO — what new ideas, changes, or shifts do you envision under your leadership?
Change is the only constant, and the world that we live in today is changing very rapidly. AI and technology are redefining business at a much faster pace than it did a few years ago. For me, it is not about changes that we need to make, but more about adapting to the changes we are seeing around us, whether it be our customers, suppliers or competitors.
We need to constantly strive to stay ahead and be relevant. People are an important and integral part of this journey, and I am hoping to stay as close as possible to our people who are the real change agents. I would also encourage people to speak openly about their challenges and the opportunities they see, as I believe we can win more as a TEAM, rather than with one individual’s thoughts or efforts.
What are the first 3 phrases that come to mind, when you say Thomas Cook!
One family. Great work culture. Second home!
I love every bit of what I do, and that has kept me going these last 31 years!
The travel industry has been through tremendous changes in recent years. What do you consider the biggest challenges today—and how do you plan to address them? How do you view the role of innovation and technology in shaping the future of travel? Are there any specific areas you are keen to focus on?
Well, simply put, the pandemic was the biggest test for the travel industry, and I think we survived that and came out of it shining.
The change that we witness today is more on the technology side where our customers are savvy in using the same, and we need to keep creating tools and services to meet the demands of this tribe. Uses of AI and its branches in a measured way will be the key to our success, and I am glad that we started on this journey much ahead. To that extent I think the pandemic was a blessing in disguise.
Today, we have AI tools for our Holidays and Corporate Travel businesses, and soon we will have FX and MICE charting their own course on top of their already agile digital platforms.
Our DMS units have invested in their own booking platforms and are automating the experience for our partners and customers alike by using state-of-the-art solutions. DEI our Imaging Company is implementing its new tool “WeC” which embodies new technologies such as Facial Recognition (FR), which I believe is the first of its kind in that industry. So you will see that we are not passively seeking, but actively working and collaborating, to stay ahead of the game.
Personally, I think every challenge is an opportunity and our focus should be on the ‘size’ of the opportunity and not the ‘enormity’ of the challenges. But then, I am the eternal optimist!
Sustainability and responsible tourism are big buzzwords today. How do you see Thomas Cook aligning with those values?
This is an ongoing journey and we had already adapted to this even before these became buzzwords. As a listed company, we had to follow ESG norms and publish our efforts to all our stakeholders and you will find a detailed mention of the work we do in our Annual Reports. (I suggest this is a must-read for all of us). We continue our efforts, but I personally believe it starts with each one of us. Writing a book or policy is not enough. What we practice is more important in making the world a better place for our future generations.
How do you balance tradition and innovation in a company that has such a rich legacy?
It is not a choice but an imperative to survive and grow! I think we are on that journey, and if you see how we have transitioned from a traditional “Brick-and-Mortar” brand to a more digitally enabled brand, I would say we have covered some distance. Having said so, technology is fast changing and customers demand most things instantly, so we need to keep investing in our technology, people and the brand itself, to keep it relevant in the future.
What is your take on the evolving expectations of travellers today—and how do we as a company stay ahead of the curve?
I have covered some parts of it in my responses above, but to be more specific, customers today are far more demanding and less patient than before. They not only need choices but a trusted partner who can help them make an informed decision, and give them the confidence that they have a great deal. Response times become critical. The way we treat our customers is even more paramount than before. And rightly so! They get us our paycheques and deserve to be treated well and with respect, irrespective of the size or nature of the transactions we do with them.
Our endeavour over the years has been to invest in our people and their training needs along with technology tools to help meet these customer demands. We have also expanded our distribution both physical and digital.
You will be delighted to note that about 20% plus of our business, especially the B2C ones are done completely digitally which was less than 5% pre-pandemic. We will continue to stay invested on this path, and find newer ways to move most of our businesses to being relationship-based rather than transaction- based, which I believe is sustainable and more profitable in the long run.
What excites you most about where the company is headed in the next few years?
The Travel Tourism and Hospitality Industry is in a multi-year growth phase. According to published reports outbound travellers will more than double to 70mn pax, from the current levels below 30mn, in the next 5 years. Consequently, spends will grow 2.5x during the same time.
India’s macros look very promising with a GDP growth rate of 6% plus, young population, digitally native user base, growing per capita and a robust credit economy, all of which argues well for the discretionary category spend that Travel and Tourism falls under.
I must also point out that post pandemic, travel had started to inch outside of the discretionary spends, and had moved toward more of a “must-do” which redefines the opportunity we can exploit in times to come.
What would success look like to you, not just in business terms, but in terms of team spirit and long-term impact?
I am glad you clarified this by saying beyond business terms as I believe that although business can be measured in P&L, B/Sheet and shareholder metrics, the real impact the business can and should make, depends on how well people speak of and remember our brand! Ours is an experience business and creating those memories for our customers is what we should be known for.
Most of our businesses have defined the CXI journey and the path to positive and high NPS score which I believe overtime will be a true testament of what we have done right or (may be) not!
Looking back on your journey—from your early years in the company to now—are there any memorable turning points that shaped who you are as a leader?
I owe a lot to my bosses, past and present, my colleagues from FX in my formative years, and the management team now, from whom I learn every day. Gratitude and more gratitude!
There are actually 2 events that shaped me, one is personal, hence I will not discuss it here!
But the one I would like to call out is my role as GM – Commercial in the FX business during, and post the integration of LKP Forex. This was one of the first acquisitions that I was a part of (not on the deal side) but on integration, and it was a hands-on masterclass on people and culture that I believe shaped me considerably into what I am today.
On a more personal note, and in lighter vein!
You met your wife Jeni here in Thomas Cook, an office romance! Could you share a little about that chapter?
It’s personal! But I must confess Jeni is the best thing that could ever happen to me. She is very mature, and keeps me in check! Any positive vibes that come from me is her influence! I am so grateful to God for bringing her into my life. My son Shlok is our lucky charm and we can’t thank God enough for completing our family!
Your family consists of…. My wife Jeni and our son Shlok. My world ends here!
On your bedside table we would find….. My phone, a photo of my family and a bottle of water.
If you were looking for some books, sorry! I am not the reading kind! 🙂
Four things you never travel without are…. Of course my phone, charger, some movies downloaded on my phone and the trusty Borderless Prepaid Card!
When you crave comfort food, you reach out for……I bet, if you were to poll, you would get this right! No prizes for guessing. Vadapav and samosa….. yummy!
Being in the travel business, your idea of an ideal holiday is……. Indulging in the art of doing nothing. Chilled mornings, a leisurely breakfast, plenty of Indian food, and some sightseeing thrown in, if one finds the time after the first three activities! Honest confession here is that other than the food scene, everything else is dictated by Jeni!
If you could change ONE thing about yourself, what would it be?
I wish I could be less impatient and much calmer than I am. Practising though ….WIP!
When you are not thinking about Thomas Cook, you chill out by…. Watching movies & OTT, and frequenting malls to manouver Jeni’s shopping cart!
Risk taker… or… micro-planner?
No risk no gain … but measured always. Data is the key, without which everything is an opinion!
Finally, what message would you like to share with the staff across the company as you take on this new role?
We are here for our customers, and every decision we make or action we take, should result in the greatest benefit for them, and we should always be honest in our dealings with them.
I will conclude with the ‘Bollywood’ in me saying: “Picture Abhi Baki Hai Mere Dost”!
We love the punch of positivity in that last line!