Executive Board remuneration

The current remuneration system for the members of TUI AG's Executive Board has been in place since financial year 2024 (beginning 1 October 2023) and was retroactively approved by the Annual General Meeting on 13 February 2024 with a majority of 88.94%.

It complies with the requirements of the German Stock Corporation Act and follows the recommendations of the German Corporate Governance Code (GCGC). In addition, it takes greater account of sustainability aspects relevant to the company as defined by the GCGC. The Supervisory Board has thus also taken into account the criticism and suggestions of investors and proxy advisors.

The remuneration system for TUI AG's Executive Board members incentivises the promotion of the company's business strategy and long-term, sustainable development. The following chart provides an overview of the individual remuneration components and the structure of the remuneration system for the members of the Executive Board.

The structure and organisation of the remuneration system has basically proven itself in recent years, which is why no fundamental adjustments were necessary. An overview of the main changes to the remuneration system valid until 30 September 2023 can be found here.

 

A description of the previous remuneration system, which will still apply in the 2024 financial year for the departing Executive Board members Friedrich Joussen, Frank Rosenberger and David Burling, can be found here.