– UK – TUI Travel PLC confirms that Volker Böttcher, an Executive Director, and Tony Campbell, a Non-Executive Director, have notified the Board of Directors of their intention not to stand for re-election at the Annual General Meeting in February 2014 and have stood down from the Board as directors with effect from 16 December 2013.
Volker Böttcher is the Managing Director of the Group’s German Specialist Division and has been an executive member of the Board since September 2007 where he has held a number of senior roles including Managing Director of Central Europe. Volker has decided that he will leave the business in December 2014 and will transition his responsibilities over the next year. With his wealth of tourism expertise, he will be considering a number of opportunities in the field of academia.
Tony Campbell joined the Board when the Company was formed at the time of the merger in 2007 – prior to that he was a Non-Executive Director of First Choice Holidays PLC. His contribution to the Board will be greatly missed particularly his wealth of knowledge and experience in retailing and online distribution.
The Company also announces that, at the forthcoming Annual General Meeting of the Company to be held on 6 February 2014, two new directors will be proposed for election to the Board as Non-Executive Directors with effect from the day following the Annual General Meeting: Valerie (Val) Gooding and Vladimir Yakushev.
Val Gooding is the non-executive chairman of electronics company Premier Farnell plc and has been appointed as a non-executive director at Vodafone plc with effect from 1 February 2014. She left her position as Chief Executive of BUPA, the UK’s leading private health company, in 2008. Over the previous 12 years with BUPA, she transformed the business from a purely UK-based operation to a major international Group with £5bn of revenues. Prior to joining BUPA, Val spent many years with British Airways where she held a number of senior roles including Head of Cabin Services, Head of Marketing, Director Asia Pacific, and Director Business Units where she was responsible for British Airways’ retail shops, charter airline, and tour operator businesses. She has served on the boards of several companies, including most recently Standard Chartered plc and J. Sainsbury plc.
Vladimir Yakushev is the Managing Partner of private equity company S-Group Capital Management. With an MSc in Physics and Technology, he started his commercial career with Mitsubishi and Mars before joining management consultancy McKinsey & Company. In 2003 he was appointed COO of Severstal Resources where he managed the operations of the company, achieving significant growth and profitability. In January 2007, Vladimir co-founded S-Group Capital Management. Based in Moscow, S-Group is TUI Travel’s joint venture partner in Russia.
Commenting, Sir Michael Hodgkinson, Deputy Chairman and Senior Independent Director, and Chairman of the Nomination Committee said: “I would like to thank both Volker and Tony for their considerable contributions to the TUI Travel PLC Board. Their wide-ranging experience – Volker’s in tourism and Tony’s in Retail and the wider consumer leisure sector – has been of great value to the TUI Travel Board since it was formed six years ago. We wish Tony continued success for the future as we do Volker when he leaves the Group at the end of next year.”
“We are very pleased to be able to propose Val and Vladimir as Non-Executive Directors. We will have secured two exceptional replacements for Volker and Tony. They will both bring with them enormous commercial expertise in international companies and will, I am sure, contribute significantly to the Board in both a positive and challenging way.”
Val Gooding is Chairman of Premier Farnell plc, lead non-executive director of the Home Office and a non-executive director of the Lawn Tennis Association (but plans to step down from the LTA at end of December 2013). She is a Trustee of Historic Royal Palaces. She has been appointed as a non-executive director of Vodafone plc with effect from 1 February 2014.
Vladimir Yakushev is Chairman of Metallurgical Commercial Bank, Spectralus, Nano-optic Devices and sits on the Boards of Innolume LTD, Centice and Fiberzone. He is a member of the Supervisory Board of TUI AG.
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