Austria
- Waggott heading disposal process of specialist portfolio (Travelopia formerly part of TUI’s Specialist Group)
- Following completion of the sale, he intends to run Travelopia outside of TUI
- Term at TUI Group Executive Board ended on 30 June 2016 and conforms with good corporate governance
- Marketing of Travelopia for disposal expected to commence Autumn 2016
Will Waggott has left the Executive Board of TUI Group on 30 June 2016. Following the merger at the end of 2014 he became CEO of Specialist Group, LateRooms.com and Hotelbeds Group under the roof of TUI Group. The decision to sell most of the Specialist Group brands, together named Travelopia, was announced in May 2016. Following completion of the sale Will Waggott intends to lead the Travelopia business into the future outside the TUI Group. In order to avoid any conflict of interest and in terms of good corporate governance he has left the Executive Board which continues to act as a consultant for the disposal and has to approve it.
Following the sale of Hotelbeds Group, TUI had announced its intention to sell Travelopia. The sale of the collection of more than 50 brands and very successful companies will commence in autumn this year with the exception of Crystal Ski and Thomson Lakes & Mountains. They remain part of the Group and are being transferred to the tourism business of TUI UK and Ireland. Both Crystal Ski and Thomson Lakes & Mountains have strong synergies with the core Tourism business. Both companies play an important role in utilising TUI’s UK aircraft fleet in particular during the winter months, and therefore create synergy potential that other specialists do not have.
