July 30, 2012
Vodafone manager Friedrich Joussen will take over as chief executive of TUI from next year, succeeding Michael Frenzel, the German travel and tourism group said on Monday.
Joussen, 49, was managing director of Vodafone Deutschland from 2005 to 2012.
TUI said Frenzel, 65, will leave the executive board after the next annual general meeting on February 13, 2013.
Frenzel, whose contract runs until end-March 2014, has headed the company since 1994, transforming the then Preussag conglomerate via a series of acquisitions into TUI, which controls Europe's largest tour operator TUI Travel.
