TUI Names Ex-easyJet Chief Lundgren to Succeed Zetsche as Supervisory Board Chair

TUI nominates ex-easyJet chief Johan Lundgren to chair its supervisory board, succeeding Dieter Zetsche after the February 2027 AGM.

TUI has lined up a seasoned aviation executive to take the helm of its supervisory board, setting the stage for a leadership transition that will not be completed for more than two years. Johan Lundgren, 59, has been nominated to chair the travel group's controlling body, succeeding Dieter Zetsche, who has held the role since May 2019. The handover is scheduled to take place following the annual shareholders' meeting in February 2027.

The nomination carries unanimous backing from both sides of the boardroom table. Shareholder representatives and employee representatives alike put Lundgren's name forward for the top post, signaling rare consensus within the oversight body.

A Familiar Face Returns to TUI

Lundgren is no stranger to the Hanover-based tourism giant. He spent nearly three decades at TUI before departing in 2015, and went on to run British carrier easyJet until the end of 2024. Since 2025, he has already served as a member of TUI's supervisory board, giving him an intimate view of the company's current structure and strategy. Market observers read the appointment of an executive with deep roots in European passenger and tourism traffic as a clear signal of the group's continued repositioning.

Zetsche, 73, has sat on the supervisory board since 2018 and will shepherd the transition until the baton passes. Alongside the boardroom change, TUI moved to lock in continuity at the executive level, extending the contract of management board member Sybille Reiss through 2030.

Shares Under Pressure

The succession announcement landed against a difficult backdrop for the travel operator. Investor reticence had already set in around a month ago, when quarterly figures were released, and the stock has shed 11.7 percent since then. The long-term boardroom plan offered little relief ahead of the weekend; market participants registered the news but stayed on the sidelines.

On Friday, TUI shares closed at EUR 6.46, down 2.6 percent on the day. That leaves the stock nursing a 28 percent decline since the start of the year.

Guidance and a Looming Booking Update

The operating environment remains demanding, yet management is holding firm on its targets. For the full 2025/26 financial year, TUI is sticking with its forecast of adjusted earnings before interest and taxes (adj. EBIT) in a range of EUR 1.1 billion to EUR 1.4 billion.

Whether that corridor stays within reach should become clearer shortly. The company is due to publish a fresh booking update at 8 a.m. next Tuesday, offering a window into current customer travel behavior.