Daimler AG boss to become chairman of Tui

Daimler AG chairman Dieter Zetsche is moving from cars to travel to lead the supervisory board of Tui from October 2018.

Dr Klaus Mangold is to end his term of office as chairman of the travel giant at the end of the 2018 financial year and will be succedded by Zetsche.

Mangold has been a member of the Tui board since 2009 and chairman since 2011.

Zetsche joined the research department of the former Daimler-Benz in 1976. He has been chairman of the executive board of Daimler AG since 2006, also heading the Mercedes-Benz Cars business unit.

Mangold said: “With Dr Zetsche, we are gaining the services of a highly-regarded top manager for the supervisory board and as my successor as its chairman.

“He embodies internationality and a strong feeling for the management of outstanding brands. The supervisory and executive boards can benefit from his extensive experience in an international corporate environment.”

He added: “For me personally it was important to arrange my succession as early as possible and to professionally ensure the transition.

“Tui is well-positioned. The company is economically healthy and is today the leading tourism group worldwide.

“The integration of the former British tourism subsidiary has been completed.

“Therefore, autumn 2018 is the right time for the change at the top of the supervisory board.”

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