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Dr Dieter Zetsche elected to TUI AG’s Supervisory Board

Dieter Zetsche.

Succession arrangement for Professor Klaus Mangold as Chairman of the Supervisory Board. Sir Michael Hodgkinson leaves supervisory body.

HANOVER – At today’s 59th ordinary Annual General Meeting of TUI AG held in Hanover, Dr Dieter Zetsche was elected as a member of the Supervisory Board. At the same time, Sir Michael Hodgkinson, Depuy Chairman of the Supervisory Board, stepped down as at the close of the Annual General Meeting. Dr Dieter Zetsche was elected for a five-year term at 96.68 per cent of the votes. He is to succeed Professor Klaus Mangold as Chairman of the Supervisory Board in the medium term. Dr Zetsche has been CEO of Daimler AG since 1 January 2006.

Professor Klaus Mangold, Chairman of the Supervisory Board of TUI AG: "With Dr Ing Zetsche an outstanding and highly-regarded top manager is joining our Supervisory Board. He embodies internationality and a strong feeling for the management of outstanding brands. The Supervisory Board and the Executive Board can greatly benefit from his extensive experience in an international group environment and his strategic impulses. With his election, the foundations are also being laid for change at the head of the TUI Supervisory Board. As planned, Dr Zetsche is to succeed me as Chairman of the Supervisory Board of TUI AG. This is the wish of all members of the Supervisory Board of TUI AG. However, as long as there are concerns among some shareholder representatives that a position as Chairman of the Supervisory Board of TUI AG cannot be reconciled with the position of Chief Executive Officer of Daimler AG, I will continue to head the Supervisory Board. Afterwards, the Supervisory Board will elect Dr Ing. Zetsche and I will hand over the office to him", explained Professor Dr Klaus Mangold.

Upon the close of the AGM, Sir Michael Hodgkinson, Deputy Chairman of the Supervisory Board, stepped down from his office. Professor Mangold: “The entire Supervisory Board thanks Sir Michael Hodgkinson for his enormous personal commitment and the consistently trusting and successful cooperation. Sir Mike played an instrumental role in the successful post-merger integration of TUI AG and TUI Travel plc and contributed to the transformation and development of the new TUI Group.” His successor as Deputy Chairman of the Supervisory Board will be Peter Long, Supervisory Board member since 2016 and Chairman of the company’s Strategy Committee.

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