NETHERLANDS: Change At The Helm Of TUI Group

Fritz Joussen becomes sole CEO of TUI Group / Peter Long, Joint CEO up to the AGM, becomes Supervisory Board member.

As of the end of today’s Annual General Meeting, Fritz Joussen (52) will be sole CEO of TUI Group. Upon the close of the Annual General Meeting, the term of office of Peter Long (63) as Joint CEO will expire. Long was elected as new member of the Supervisory Board of TUI AG by the Annual General Meeting held in Hanover.

Until December 2014, Peter Long was CEO of TUI Travel PLC, TUI’s tourism subsidiary created through the merger between First Choice and TUI AG’s tourism division in 2007. Following the merger between the British subsidiary and the German parent company, he then became one of the two Joint CEOs of the newly formed TUI Group alongside Fritz Joussen in December 2014. When the merger was completed at the end of 2014, it was decided that Fritz Joussen was to become sole CEO after the end of a transitional year of joint management by two Co-CEOs, and that Peter Long was going to step down from his role on the Executive Board.

TUI is the world’s number one integrated tourism group. It employs 76,000 people in more than 100 countries. Apart from tour operators, 300 Group-owned hotels and clubs and six European airlines, TUI has three cruise lines currently operating 13 cruise ships. TUI has a European structure: It is domiciled in Germany (Berlin/Hanover), its shares are listed in the London Stock Exchange (FTSE 100) and the Frankfurt Stock Exchange (Open Market). In financial year 2014/15, the Group generated turnover of 20.01 billion euros.