TUI AG chief executive Fredrich Joussen, chief financial officer Horst Baier and chief operating officer Sebastian Ebel have resigned from the TUI Travel Board ahead of the merger between the two groups.
In an announcement to the Stock Exchange yesterday, TUI Travel said seven other directors are stepping down with immediate effect – non-executive deputy chairman Sir Michael Hodgkinson and non-executive directors Coline McConville, Janis Kong, Minnow Powell, Valerie Gooding, Dr Erhard Schipporeit and Dr Albert Schunk.
This means the TUI Travel Board will consist of chief executive Peter Long, deputy chief executive Johan Lundgren and chief financial officer Will Waggott.
The €6.5 billion merger between TUI AG and TUI Travel is due to be completed on December 17.
