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TUI: CEO Sebastian Ebel and CFO Mathias Kiep appointed for a further term of office
TUI
CEO Sebastian Ebel is set to lead TUI for a further term of office. At its
meeting today, TUI AG's Supervisory Board approved the reappointment of the
CEO. The contract of CFO Mathias Kiep has also been extended by three years.
The current contracts of both members of the Executive Board run until
September 2025. The new appointments will run until September 2028.
Sebastian
Ebel assumed leadership of TUI as CEO on October 1, 2022. His long and
distinguished career in the group includes being a board member responsible for
driving the successful growth of the hotel and cruise business, and also as
TUI's CFO during the pandemic. Mathias Kiep succeeded Ebel as CFO in October
2022.
In
his first two years as CEO, Sebastian Ebel has focused on TUI's transformation,
both strategically and operationally. The repayment of all government funds
from the pandemic programs has been completed, management has been restructured
and operations have been strengthened. The Group has recently reported
double-digit growth in underlying EBIT for eight quarters in a row.
TUI
is not only growing in existing markets with new products and new customers,
but also aims to grow globally outside of Europe – with a scalable and dynamic
range of tour operators, as well as new hotel clusters. For Hotels, the focus
is on North, West and East Africa, and Asia, while new sales markets include
Spain, Portugal, Latin America and Eastern Europe. TUI has been providing
holiday experiences worldwide for decades, and will now leverage this global
brand awareness to win local customers in countries that have traditionally
been TUI destinations. This offers substantial potential for global customer
growth.
Mathias
Kiep was appointed CFO of the international tourism group on October 1, 2022.
During his term of office, the Corona state aid was fully repaid. Thanks in
part to successful capital market transactions, TUI's balance sheet structure
was massively improved. He and his team prepared and successfully executed
TUI's re-entry into the MDAX. In June 2024, after nine years, the Group ended
its dual listing in the UK and Germany and has been at home on the Frankfurt
Stock Exchange ever since. Mathias Kiep joined TUI AG in 2011 and was
responsible, among other things, for strategy and mergers & acquisitions.
As Managing Director of Finance at TUI Deutschland GmbH, he also gained
extensive experience in the operational business of a large national company.
Dr.
Dieter Zetsche, Chairman of the Supervisory Board of TUI AG: “TUI has had two
successful years. This has been reflected in turnover and earnings from quarter
to quarter. The Group has been able to overcome the consequences of the
pandemic thanks to an enormous effort by the entire TUI team. Now the focus is
purely on strong profitable growth. TUI is accelerating its transformation and
thus creating the basis to continue playing a leading role in the rapidly
growing global tourism segment. The tourism sector is healthy and continues to
grow faster than the overall economy even after the pandemic. Travel is and
will remain a global megatrend for the foreseeable future. The team around
Sebastian Ebel is ideally positioned to lead TUI to further profitable growth.
Together with all my colleagues on the Supervisory Board, I look forward to
continuing our close cooperation with Sebastian Ebel as CEO, Mathias Kiep as
CFO, and the entire TUI team.”
Image
Credit: © TUI Group
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