Vladimir Yakushev appointed to the Supervisory Board by order of the Hanover local court / Dr Franz Vranitzky resigns from Supervisory Board

The Hanover local court has appointed Vladimir Yakushev (36) to TUI AG’s Supervisory Board with immediate effect. Dr Franz Vranitzky, former chancellor of the Republic of Austria, had previously resigned from the Supervisory Board. “The Supervisory Board and Executive Board thank Dr Vranitzky for his outstanding work over the past seven years. He has always supported the realignment of our Group with his critical and constructive comments based on his expertise“, says Dr Jürgen Krumnow, chairman of the Supervisory Board.

Vladimir Yakushev is managing partner of S-Group Capital Management and an experienced Russian manager. He was executive director at Severstal-Resurs from 2003 to 2006. As graduated physicist, he also received an MBA from INSEAD in Fontainebleau, France. Yakushev had previously held leading positions at the McKinsey consultancy company in Russia and Australia and as business development manager for Mars in Russia.

Against the background of the appointment of Vladimir Yakushev, TUI AG’s Supervisory Board and Executive Board emphasize the fact that TUI AG continues to be open for a further reshuffle of the Supervisory Board. The written offer submitted to TUI’s major shareholder John Fredriksen by the nomination committee to join the Supervisory Board is upheld unamended.