Hanover, 20 September 2019

TUI AG: Realignment of key departments for next transformation phase

  • Peter Krüger to focus on Group Strategy and Mergers & Acquisitions
  • Mathias Kiep takes over as Group Director Investor Relations and Corporate Finance

Peter Krüger (43), member of the Group Executive Committee and currently Group Director Strategy, M&A and Investor Relations, will focus entirely on Group Strategy and Mergers & Acquisitions. Mathias Kiep (44), currently CFO Central Region and Managing Director Finance at TUI Deutschland GmbH, will be returning to TUI AG to take on the new role as Group Director Investor Relations and Corporate Finance from 1 November 2019. Peter Krüger will report to Group CEO Fritz Joussen, Mathias Kiep will report to Group CFO Birgit Conix.

The realignment of the two functions is part of the activities launched to prepare for the next phase of the transformation of the Group. In the first phase, launched in 2013, the Group successfully underwent a transformation from a traditional tour operator to a developer, investor and operator of hotels and cruises and expanded its activities in the destinations. Phase two, TUI’s transformation as a digital and platform company, is well on track. The Group is consistently continuing its transformation to defend its leading role in a changing market. The sector is expected to undergo further consolidation, in particular for tour operators and airlines. TUI is well prepared in strategic, economic and operational terms to actively help shape the transformation and emerge as one of the winners.

Under Peter Krüger’s leadership, TUI has significantly raised the profile of Group Strategy and engaged in active portfolio management. Key projects such as the acquisitions of Musement and Destination Management or the divestments of Corsair and Berge & Meer/Boomerang have been successfully completed. Krüger’s tasks also include initiating strategic partnerships. Prior to joining TUI in 2017 Peter Krüger was Managing Director and Investment Banker at Deutsche Bank.

Investor Relations had previously been part of Peter Krüger’s responsibilities. Since he joined TUI from his previous role at Deutsche Bank in 2017, he has strengthened IR’s position and set a number of new priorities with his team. Here, too, the current market environment requires full attention. TUI will therefore combine Investor Relations and Corporate Finance under Mathias Kiep’s leadership.

Mathias Kiep has many years of experience in capital markets and transactions from his previous roles, including his position in investment banking at Greenhill. Mathias Kiep had previously held a managerial position in Corporate Finance at BNP Paribas. He started his career in investment banking at Lazard. Kiep joined TUI AG at Hanover in 2011 and was initially responsible for Strategic Controlling, before taking over as Director Strategy and Business Development. In 2013/14, the graduated business economist played a major role in the preparation of the merger between TUI AG and TUI Travel, initiating the first key phase of TUI’s transformation from a trading company to a content provider. In 2017, he joined one of TUI Group’s two largest market organisations as Managing Director Finance for TUI Germany GmbH.

Mathias Kiep’s successor at TUI Germany will shortly be appointed.

About TUI Group

The TUI Group is the world's leading tourism group and operates worldwide. The Group is headquartered in Germany. The TUI share is listed on the FTSE 250, the leading index of the London Stock Exchange, and on the Regulated Unofficial Market in Germany.

The TUI Group offers integrated services from a single source for its 28 million customers, 21 million of whom are in the European national companies. The entire tourism value chain is represented under one roof. This includes over 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson and 15 cruise ships, from the MS Europa and MS Europa 2 in the luxury class and expedition ships to the Mein Schiff fleet of TUI Cruises and cruise ships at Marella Cruises in England. The Group also includes Europe's leading tour operator brands and online marketing platforms, five airlines with more than 100 modern medium and long-haul aircraft and over 1,000 travel agencies. Besides the expansion of its core business with hotels, cruises via successful joint ventures and activities in holiday destinations, TUI is increasingly focusing on the expansion of digital platforms. The Group is transforming itself into a digital company.

Global responsibility for sustainable economic, ecological and social action is at the core of our corporate culture. With projects in 25 countries, the TUI Care Foundation initiated by TUI focuses on the positive effects of tourism, education and training and the strengthening of environmental and social standards. It thus supports the development of holiday destinations. The globally active TUI Care Foundation initiates projects that create new opportunities for the next generation.