Checking out: CEO of travel giant TUI announces departure after more than 10 years in the job
Fritz Joussen, the CEO of travel group Tui has announced his resignation after 10 years as boss of the firm and leading it through the pandemic.
Joussen will step down from the German holiday giant at the end of September, when he will be replaced by the company’s chief financial officer, Sebastian Ebel.
Mr Joussen said Tui’s survival was seriously threatened when the pandemic hit in March 2020 but added that bosses rescued the firm and the new chief executive can lead it back to growth.
Mr Joussen said: “When the pandemic in spring 2020 turned us into a company without a business virtually overnight, all our attention was focused on one goal: rescuing Tui.
“The immediate crisis management, which was about ensuring the group’s continued survival, has now been completed,” he added.
“Under new management, Tui is now starting the next chapter: a return to profitable growth – of course coupled with tasks from the crisis: reducing debt, strengthening the balance sheet and the further transformation of Tui.
“I am delighted that Sebastian Ebel, a new CEO with whom I have enjoyed a long and trusting working relationship, is to take over. Tui is in very good hands with him.
“Sebastian Ebel will lead Tui back onto the growth path.”