Tui CEO Joussen resigns after pandemic

• Fritz Joussen will stand down as CEO of Tui at the end of September.
• He has led Europe’s largest tour operator through a challenging merger and the coronavirus pandemic.
• Between 2014 through 2020, Ebel was in charge of Tui’s hotel, resort, and cruise operations.

Fritz Joussen will stand down as CEO of Tui after nine years at the helm, having led Europe’s largest tour operator through a challenging merger and the devastation of the coronavirus pandemic.

Sebastian Ebel, who has been on Tui’s board since 2014 and took over as chief financial officer last year, will replace Joussen at the end of September, the company announced in a statement on Friday.

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Dieter Zetsche, Tui chair, said the board “regrets Fritz Joussen’s decision — and I personally regret it, too. In 2013, Fritz Joussen took over a group threatened with being split up, successfully restructured it and gave Tui its current future-proof shape.”

Joussen handled the 2014 tense merger discussions between British tour operator Tui Travel and its German parent, Tui AG, which established the world’s largest tourism company at the time.

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Zetsche also praised Joussen for having “led Tui safely and with a clear focus through the existential coronavirus crisis and laid the foundation for the group to now focus on profitable growth again”.

He said Ebel was “ready for the new start after corona”, adding that “strengthening the balance sheet and profitable growth are his focus”. Between 2014 through 2020, Ebel was in charge of Tui’s hotel, resort, and cruise operations.