Will Waggott, chief executive of non-mainstream at Tui AG for almost two years, has stepped down from the executive board.

Waggott intends to run the Travelopia specialist portfolio outside of Tui once it has been sold.

The marketing of Travelopia for disposal expected to start in the autumn, according to the company.

Tui said: “In order to avoid any conflict of interest and in terms of good corporate governance he has left the executive board which continues to act as a consultant for the disposal and has to approve it.

“The sale of the collection of more than 50 brands and very successful companies will commence in autumn this year with the exception of Crystal Ski and Thomson Lakes & Mountains.

“They remain part of the group and are being transferred to the tourism business of Tui UK and Ireland.

“Both Crystal Ski and Thomson Lakes & Mountains have strong synergies with the core Tourism business.

“Both companies play an important role in utilising Tui’s UK aircraft fleet in particular during the winter months, and therefore create synergy potential that other specialists do not have.”

Waggott was previously chief financial officer and commercial director of Tui Travel, having previously worked at Airtours.