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06.05.2003 – 14:38

TUI AG

New management structure at TUI AG Smaller executive board, more streamlined operative management

    Hanover (ots)

The TUI Group has restructured its management level as part of its efficiency enhancement programme.          According to the new structure, all central and Group-wide platform functions will be run by the TUI AG central executive board consisting of four instead of seven directors.          The market-related management functions, which are largely run by decentralised country organisations, will in future be the responsibility of divisional directors who are in most cases directly in charge of their operative units.          The future TUI AG central executive board:          Michael Frenzel: executive board chairman          Rainer Feuerhake: Finance          Peter Engelen: Human Resources          Sebastian Ebel: Tourism Platforms          The management of the source markets divided up into three regions will in future be the responsibility of the following divisional directors:          Volker Böttcher: Source Market Central (Germany, Austria, Switzerland, Poland) -  also managing director of TUI Deutschland GmbH

    Peter Rothwell: Source Market North (UK, Sweden, Denmark, Norway, Ireland) - also CEO TUI Northern Europe

    Eric Debry: Source Market West (France, Belgium, Netherlands) - also president of Nouvelles Frontières               Helmut Stodieck, a former member of the TUI AG executive board continues to be responsible as a divisional director for Logistics/Holdings.          Commenting on these changes, Michael Frenzel said: "This new management structure is another logical step in implementing our strategic business model which includes the Group-level control of pan-source-market platform functions (Airlines, Hotels, Incoming) in addition to central functions, whilst placing responsibility for each country in the hands of the source markets."          As part of the management restructuring, Ralf Corsten and Mr Gurassa step down from the TUI executive board.          After ten successful years at TUI, and the successful reorganisation and integration of Nouvelles Frontières, Ralf Corsten has transferred his operative responsibilities to has staff. He will support the company in future at a consulting level with regard to the further development of the hotel platform.          Charles Gurassa, former CEO Thomson Travel Group which was acquired by TUI, became a member of the TUI AG executive board after the takeover. He very successfully integrated the Thomson Group within the TUI Group and built up TUI Airline Management.          The new TUI Group management structure comes into effect on 1 June 2003.           ots Original Text Service: TUI AG Internet: http://www.presseportal.de

Dr. Kay Baden, Telephon +49(0)511 566-1417 Nikolai Juchem, Telephon +49(0)511 566-1456

Original content of: TUI AG, transmitted by news aktuell