TUI AG has appointed Daimler chairman Dr Dieter Zetsche as the new chairman of its supervisory board.
He will succeed Professor Dr Klaus Mangold, who will step down as chairman on September 30 at the end of TUI’s 2018 financial year.
Professor Mangold has been a member of the TUI supervisory board since 2009 and its chairman since 2011. He was most recently elected at the 2016 Annual General Meeting for a five-year term.
"With Dr Zetsche, we are gaining the services of a highly-regarded top manager for the Supervisory Board and as my successor as its chairman," said Professor Mangold. "He embodies internationality and a strong feeling for the management of outstanding brands.
"The Supervisory and Executive Boards can benefit from his extensive experience in an international corporate environment. For me personally it was important to arrange my succession as early as possible and to professionally ensure the transition.
"TUI is well-positioned. The company is economically healthy and is today the leading tourism group worldwide. The integration of the former British tourism subsidiary has been completed. Therefore, autumn 2018 is the right time for the change at the top of the Supervisory Board."
