Thomas Cook says CEO Harriet Green to step down

British holiday company Thomas Cook said its chief executive Harriet Green was stepping down, two years after leading a turnaround of the group.

Warning that its pace of growth would moderate next year to reflect a tougher trading environment, Thomas Cook said that Green would be replaced by chief operating officer Peter Fankhauser with immediate effect.

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The CEO change came as the company reported a 44 percent jump in earnings before interest and tax (EBIT) to 323 million pounds ($507.43 million) for the year ended September, broadly in line with a Thomson Reuters consensus forecast of 320 million pounds.

Chris Ratcliffe | Bloomberg | Getty Images