Horst Baier, chief financial officer at TUI Group, has left the company after 22 years, including almost 11 years as an executive board member.
He will pass the baton to his successor Birgit Conix, 52, today, the beginning of the financial year for TUI.
Conix has been a member of TUI’s executive board since July and has been appointed as new chief financial officer by the supervisory board.
Baier was appointed as a TUI board member in 2007 and has been chief financial officer since 2010.
In the nearly eleven years as executive board member, he was instrumental in making TUI the world market leader in tourism.
Although he faced a challenging period characterised by the global financial crisis, disgruntled investors and break-up scenarios at the beginning of his board mandate, TUI successfully managed to get back on track for success during his term of office.
He played a vital role in TUI’s restructuring launched in 2013 and the merger between TUI AG and TUI Travel PLC at the end of 2014.
Fritz Joussen, chief executive, TUI Group, said: “On behalf of the executive board and all colleagues working for our group, I thank Horst Baier for his outstanding services for TUI.
“I would like to personally thank him for the trusting and open cooperation based on partnership.
“Since I joined TUI, Horst Baier has always been an extremely valuable and reliable advisor and companion for me.
“Our colleagues have also benefited from Horst Baier’s profound expertise and valuable inputs.
“It is in large measure due to him that our organisation is in excellent shape today.
“From many talks I know that our colleagues across the group will miss Horst Baier as part of the TUI team.
“Consistently pursuing his goals with perseverance, but always remaining calm, fair and human, he has above all been a great team player.”