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TUI Travel announces resignation of Michael Frenzel

Staff writer |
Crawley, United Kingdom - March 27, 2013, Crawley, United Kingdom - TUI Travel plc, an international leisure travel group, announces that Michael Frenzel has stepped down as the non-executive chairman.

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Dr. Frenzel studied law at Ruhr University in Bochum, and successfully completed his doctorate (Dr. jur.) whilst working at the University as a scientific assistant.

Dr. Frenzel joined the Westdeutsche Landesbank (WestLB), Düsseldorf in 1981, where he was promoted to various managerial positions: he became manager of the Industrial Holdings Department in 1983, and overall manager of WestLB's Equity Holdings Division in 1985 - including holdings in banking, leasing and real estate.

In 1988, he became a member of the Preussag AG executive board, being responsible for Trading and Logistics. He was promoted to chairman of the executive board in January 1994.

Under his leadership, the multi-business conglomerate Preussag was repositioned into Europe’s leading tourism Group within only a few years. One of the main milestones was the acquisition of a stake in Hapag-Lloyd in 1997.

This was followed by the acquisition of leading tourism companies such as TUI/Hanover, Thomson Travel/London, and Nouvelles Frontieres/Paris.

On 1 July 2002, the annual general meeting passed a resolution to change the name of Preussag AG to TUI AG. On 3 September 2007 Dr. Frenzel was appointed Chairman of TUI Travel PLC.

Mr. Frenzel has been replaced by Friedrich Joussen.

Mr. Joussen having qualified for university entrance, he studied electrical engineering at RWTH Aachen University and graduated as an engineer. After graduation Mr. Joussen gained some initial professional experience in Portland/Oregon (USA) and joined Mannesmann AG in Düsseldorf/Germany in 1988.

He was then one of the first managers of the newly founded Mannesmann Mobilfunk GmbH, playing a crucial role in the establishment of the mobile industry in Germany and Europe.

He held various management positions in Group strategy, innovation management and marketing. From 1997 to 2000 Friedrich Joussen was marketing director at Mannesmann Mobilfunk GmbH.

When the Mannesmann Group was taken over by Vodafone, he was appointed Head of Global Product Management at the Vodafone Group in Newbury (UK).

In 2003 Mr. Joussen returned to Germany and took over as Chief Operating Officer (COO) of Vodafone Deutschland.

From 2005 until September 2012 Mr. Joussen was Chief Executive Officer (CEO) of Vodafone Germany, in charge of the largest operating company in the global Vodafone Group.

At an international level, Mr. Joussen was a member of the Board of the Group-owned venture capital company Vodafone Ventures and was a member of the CEO Council and the Strategy Board of the Vodafone Group.

With effect from 15 October 2012, Mr. Joussen was appointed a member of the Executive Board of TUI AG. With the effect from the end of the Annual General Meeting on 13 February 2013, he took over as CEO of TUI AG.

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