Former Tui Travel CEO Peter Long will no longer step up to become chairman of Tui AG.
Instead, he is to become vice chairman of the Tui AG supervisory board after the group’s 2018 AGM.
Tui said: “After much consideration, including taking into account the complexities of the German governance structure, Peter Long has concluded that it would be in the best interests of the group for him to serve as vice chairman.
“As a result, he no longer intends to become the chairman of Tui AG’s supervisory board.
“Peter Long will take over the role from Sir Michael Hodgkinson, who will retire at the end of the AGM in February 2018 from the supervisory board.
“Furthermore Peter Long will continue to be the chairman of the strategy committee of the supervisory board.” Long has been a member of the supervisory board since last year.
He was previously co-chief executive of Tui AG after he held the position of chief executive of Tui Travel which he led into the merger of Tui AG at the end of 2014.
Company chairman Klaus Mangold said: “Peter Long has made a major contribution to TUI and the tourism industry worldwide. I am pleased that he will continue to support us with his expertise.”
Long said: “I remain committed to contributing to Tui’s continued success.
“I am delighted to have been asked by the supervisory board to succeed Sir Michael Hodgkinson as vice chairman when he steps down next year and look forward to delivering further value to the supervisory board.”