The TUI Group and its key subsidiaries and shareholdings operate in tourism. The Group structure comprises three Sectors: TUI Travel, TUI Hotels & Resorts and Cruises. The indirect 38.4% stake (as per 30 September 2011) in Hapag-Lloyd AG taken after the completion of the sale of Container Shipping is measured at equity and carried under Central Operations in the consolidated financial statements.
TUI AG - Parent company
TUI AG is the Group’s parent company headquartered in Hanover. Via its affiliates, it holds direct or indirect interests in the principal Group companies conducting the Group’s operative business in individual countries. Overall, TUI AG’s group of consolidated companies comprised 766 direct and indirect subsidiaries at the balance sheet date, of which 45 were based in Germany and 721 abroad. A further 17 affiliated companies and 40 joint ventures were included in TUI AG’s consolidated financial statements on the basis of at equity measurement.
Board structure
As at the balance sheet date, the Executive Board of TUI AG consisted of four members: the CEO and three other Board members in charge of Finance, Human Resources/Legal and Tourism. more...