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S8 and MFS merger management positions clarified
Friday, 06 Sep, 2006
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It was announced yesterday that S8 founder Chris Scott would become an executive director of MFS.
MFS, which launched a $700 million friendly takeover bid for S8 on Monday, said yesterday that Mr Scott would become responsible for the travel division of the merged entity.
If approved, the merger will create a vertically integrated global travel business, bringing together MFS’s more than 9000 hotel rooms with S8’s 2000 travel agencies and 5000 hotel rooms.
The S8 hotel accommodation business, however, would be transferred under the control of MFS Tourism chief executive officer Rolf Krecklenberg.
S8 chairwoman Jenny Hutson will become deputy chair of MFS in the event the bid becomes unconditional.
Graham Muldoon
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