At its meeting today, TUI AG’s Supervisory Board addressed the bringing of legal action against TUI Chief Financial Officer Rainer Feuerhake and declared its confidence in Mr Feuerhake. The Supervisory Board shares the view taken by the Executive Board of TUI AG and its legal advisers, namely that Mr Feuerhake has acted lawfully more than eight years ago at the time of the transfer of construction and shipbuilding division to Babcock Borsig.
Moreover, the Supervisory Board noted that Mr Feuerhake had acted not for personal gain but solely in the interests of the company (then Preussag AG) and in line with resolutions adopted by its executive bodies.
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