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Dr Dieter Zetsche elected as new Chairman of TUI AG’s Supervisory Board

Fritz Joussen (CEO), Dr Dieter Zetsche (Supervisory Board Chairman), Professor Klaus Mangold.

Tribute paid to long-standing Chairman Professor Klaus Mangold.

HANOVER – TUI AG’ Supervisory Board unanimously elected Dr Dieter Zetsche as its new Chairman. He succeeds Professor Klaus Mangold, who has stepped down from his position, as announced, after eight years.

On behalf of the entire Supervisory Board, the new Supervisory Board Chairman Dr Dieter Zetsche thanked Professor Mangold and paid tribute to his successful work: “The Executive Board and the Supervisory Board thank Klaus Mangold for his outstanding commitment and services delivered for TUI over the past few years. During Klaus Mangold’s tenure at the helm of the Supervisory Board, the group delivered an excellent development. During that period, its transformation as an integrated tourism group was successfully implemented and TUI was placed into a globally leading position. I am looking forward to my new role, and I will be working together with the Executive Board and our 70,000 employees to ensure that TUI will continue its successful path.”

Professor Klaus Mangold: “I am handing over the chair of the Supervisory Board after slightly more than eight years, a period characterised by major changes within both the sector and TUI. Today, TUI Group is in bouncing good health and remains a growth company. Following a phase of restructuring and realignment, the post-merger economic and cultural integration of TUI Travel plc has been successfully completed. TUI has transformed from a traditional tour operator into a group investing in own hotels and cruise ships. With Dr Dieter Zetsche, a very successful entrepreneur is joining us as Chairman of TUI AG’s Supervisor Board. He will contribute his excellent international management experience to benefit TUI. I am passing the baton to him, knowing that Dieter Zetsche will provide the best possible advice and support to TUI AG as the group continues on its successful path.”

The Supervisory Board Chairman’s succession was initiated at an early stage. In February 2018, TUI AG’s Annual General Meeting had elected Dieter Zetsche as a member of the Supervisory Board. Klaus Mangold had declared his willingness to continue as Chairman of TUI’s Supervisory Board until Dr Zetsche was going to step down as CEO of Daimler AG.

Dr Dieter Zetsche studied electrical engineering, graduating as an engineer from Karlsruhe University. He later obtained a PhD from the University of Paderborn. In 1976, he joined the research department of Daimler-Benz AG. Dr Zetsche was appointed as a member of the Group Management Board in December 1998 and became CEO of Daimler AG on 1 January 2006.  He was also Head of Mercedes-Benz Cars Division.

The Supervisory Board has proposed Vladimir Lukin as a candidate to fill the vacant Supervisory Board position, and has requested the Executive Board to initially file an application for the appointment of Mr Lukin by court order until the next ordinary Annual General Meeting to be held in February 2020. Vladimir Lukin served as CFO of Severstal Group for many years. He currently serves as Special Advisor to the Chairman, Alexey Mordashov. Vladimir Lukin had already been a member of TUI AG’s Supervisory Board from February 2014 until the merger between TUI AG and TUI Travel plc in December 2014.

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