Tui loses two board members
Tui Travel confirmed it was losing two board members in the same week that it parted company with its auditors KPMG following the discovery of a £117m hole in the company’s accounts.
Jeremy Hicks, Tui’s audit committee chairman, and fellow non-executive director Giles Thorley have announced they will not stand for re-election at the company’s annual general meeting on February 3 and they will stand down from January 31. There is no suggestion that their departures are connected with the company’s accounting difficulties.
Each had served with the company for three years.
Tui’s deputy chairman Sir Michael Hodginkinson said they had been "valued" members of the Tui Travel board since its creation in 2007.
KPMG resigned as the company’s auditor last month after it was discovered that an IT blunder had led to Tui overstating its profits in 2009, which in turn led to the resignation of Tui finance director Paul Bowtell. Shareholders will be asked to approve the appointment of PricewaterhouseCoopers as new auditors at the AGM.
The company said it had begun the process of identifying potential new non-executive Directors and announcements are expected shortly.
By Linsey McNeill
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Singapore to forbid entry to undesirable travelers with new no-boarding directive
In Italy, the Meloni government congratulates itself for its tourism achievements