TUI is rearranging its group management, with Sebastian Ebel taking over as chief financial officer of the company.

An experienced manager of many years’ standing with the company, he will move to the top of the finance division from January 1st.

The supervisory board, headed by Dieter Zetsche, agreed on the changes at the annual general meeting on Tuesday

Ebel is currently responsible for the executive board division Holiday Experiences with hotels, cruises and activities in the destinations.

He joined the group back in 1991 during the Preussag era.

Birgit Conix, who is currently responsible for finance, had already decided in the summer not to extend her contract term and to leave the group at the end of the year.

The Belgian had joined TUI in 2018 and during her time has driven forward the restructuring of the finance department, focusing in particular on strengthening the balance sheet structure before the Covid-19 crisis.

TUI chief executive, Fritz Joussen, said: “I would like to thank Birgit Conix for her commitment in difficult times.

“She has achieved a lot for TUI and has put financing and liquidity on a secure foundation during the crisis.

“Sebastian Ebel is a very experienced financial manager who has also successfully managed large operating companies.

“We have mastered many common challenges together.

“I look forward to having him at my side as chief financial officer in the future.”