TUI AG has appointed Michael Behrendt divisional director of the Group with effect from 1 October 2004…
TUI AG has appointed Michael Behrendt divisional director of the Group with effect from 1 October 2004. Behrendt, who also holds the function of CEO of Hapag-Lloyd AG in Hamburg, will be responsible for the TUI Group’s shipping sector. The Supervisory Board of TUI AG approved the appointment at today’s meeting held on Crete.
Thus, the number of TUI divisional directors has risen from three to four. Dr. Michael Frenzel, CEO of TUI AG, points out: “The enlargement of our divisional management results from the decision to dispense with the IPO of Hapag-Lloyd. We will keep the highly profitable shipping sector completely within our Group, and it is our intention for this to be reflected in our management structure.“
Hapag-Lloyd AG is a 100% subsidiary of TUI AG with the core business segments container shipping and cruises. It is one of the most successful and most profitable companies operating in the steadily growing market for container transport.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
