TUI announces board changes as CEO resigns
TUI announced on Friday that its chief executive officer Friedrich Joussen has handed in his resignation as a member of the executive board, with effect from 30 September.
The FTSE 250 leisure travel giant said that on 23 June, the presiding committee of its board proposed that, in the event of Joussen's resignation, its chief financial officer Sebastian Ebel should be appointed chairman, and group director of controlling, corporate finance and investor relations Mathias Kiep should be appointed chief financial officer.
Both would take place from 1 October, for a period of three years until 30 September 2025.
At 0934 BST, shares in TUI were down 3.66% at 146.25p.
Reporting by Josh White at Sharecast.com.