TUI Group appoints Daimler's Dieter Zetsche as its new Chairman
TUI Group, the multinational travel company, has announced the appointment of Dr Dieter Zetsche as its new Chairman.
Zetsche is currently at Daimler AG, where he has been Chairman of the Executive Board for over a decade. He will replace the outgoing Dr Klaus Mangold at TUI, who will leave in 2018.
Since taking the key leadership position at automotive giant Daimler in January 2006, Zetsche has implemented deep-rooted changes which have resulted in a significant turnaround for its Mercedes-Benz brand.
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After initially joining Daimler's research division in 1976, he led Mercedes divisions in regions such as Brazil, Argentina and the US state of Oregon. He was awarded a spot on Daimler's Board in 1998.
"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," said Mangold in a statement.
"He embodies internationality and a strong feeling for the management of outstanding brands. TUI is well-positioned. The company is economically healthy and is today the leading tourism group worldwide."
Zetsche will succeed Mangold on October 1st, 2018, with TUI Group having achieved a record turnover of €18.5bn in its 2017 financial year.
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