Ten directors have resigned ahead of the merger between Tui Travel and its German parent Tui AG.
They include Tui AG’s chief executive Fredrich Joussen, chief financial officer Horst Baier and chief operating officer Sebastian Ebel.
Also leaving with immediate effect is Tui Travel non-executive deputy chairman Sir Michael Hodgkinson and non-executive directors Valerie Gooding, Janis Kong, Coline McConville, Minnow Powell, Dr Erhard Schipporeit and Dr Albert Schunk.
Following the resignations, the board will comprise of Tui Travel chief executive Peter Long, deputy chief executive Johan Lundgren and chief financial officer Will Waggott.
Tui Travel shares were suspended prior to the announcement yesterday.
Applications have been made to the UK Listing Authority and the London Stock Exchange for shares in the combined group to be admitted to listing and trading from December 17.
This follows plans for the all share merger becoming effective.
The €6.5 billion merger plans to create the world’s largest travel group were originally agreed in September.