Merger of TUI Travel, TUI AG Completed

Photo © TUI

British tour operator TUI Travel and its German parent company TUI AG are now one company following an agreement in September on the terms of a 6.5 billion euros merger. The leisure travel group now has 77,000 employees in 130 countries.

“Under the roof of the new TUI Group we want to grow and increase our international market position,” Friedrich Joussen, Joint Chief Executive of TUI AG, said.

The new TUI Group comprises some 300 hotels, 136 aircrafts and 1,800 shops across Europe while customers add up to 30 million all over the world.

On his part, Peter Long, Joint Chief Executive of TUI AG, said the new Group would secure long-term access to unique content which will allow the company to accelerate growth plans. “In addition, we have identified significant efficiencies and cost savings. All this will lead to greater shareholder value, from our first full financial year,” he said.

The Group Executive Committee of the new TUI Group comprises the following members:

Friedrich Joussen, Co-CEO
Peter Long, Co-CEO
Johan Lundgren, Deputy CEO, Mainstream
Horst Baier, Chief Financial Officer
Sebastian Ebel, Chief HR Officer, Strategic Platforms
William Waggott, CEO Accommodation & Destinations and Specialist & Activity
David Burling, Managing Director TUI UK and TUI Ireland,
Christian Clemens, Managing Director TUI Germany,
Thomas Ellerbeck, Group Director Corporate & External Affairs
Erik Friemuth, Group Chief Marketing Officer,
Kenton Jarvis, Group Director Controlling, CFO Mainstream
Dr. Hilka Schneider, General Counsel, Chief Compliance Officer & Company Secretary,
Jacky Simmonds, Group HR Director

The start of the TUI Group on 17 December was officially marked by its shares starting to trade for the first time at the London Stock Exchange at 8am GMT.