Hanover, 21 January 2011. Christiane Hölz, regional managing director of the Association of German Shareholders (Deutsche Schutzvereinigung für Wertpapierbesitz e.V. ), has withdrawn as candidate in the run-up to the elections to TUI AG’s Supervisory Board. This move is supported by all substantial shareholders of TUI AG and aims to facilitate a more constructive future relationship between all shareholder groups and the management.
The new candidate proposed for election to the Supervisory Board is Christian Strenger, member of the supervisory boards of DWS Investment GmbH, Evonik Industries AG and Fraport AG. Mr Strenger has extensive financing and capital market expertise, acquired through executive positions held in Germany and abroad. Mr Strenger is a long-standing member of the Government Commission on the German Corporate Governance Code and the Exchange Experts Commission at the German Ministry of Finance.
All major TUI shareholders support this nomination so that they will not submit a counterproposal regarding the list of candidates to be put to the vote. The Supervisory Board of TUI AG welcomes this proposal in the interest of all shareholders.