TUI responds as largest shareholder hit with sanctions

Monday, 03 Mar, 2022 0

Tour operator TUI has confirmed the European Union imposed economic sanctions against its largest shareholder Alexey Mordashov.

The aim of the sanctions is to prevent Mordashov from disposing of his shares in TUI AG, the company said.

Mordashov resigned from TUI’s supervisory board with immediate effect.

Mordashov has been a shareholder in TUI AG for around 15 years and currently holds around one third (34%) of the share capital.

Two thirds of the shareholders are private and institutional investors and come from Germany, the EU, the UK and the US.

“The EU sanctions relate to Mr Mordashov as a person, not to TUI AG, in which he is a shareholder. In this respect, these sanctions against the shareholder have no impact on the company in which he holds shares,” TUI said.

The operative business of TUI AG is managed by the Executive Board, as is the case with any German public limited company.”



 

profileimage

Ray Monty



Most Read

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
TRAINING & COMPETITION
Skip to toolbar
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...