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TUI: CFO to leave at year end

( - German travel group TUI said on Wednesday that chief financial officer Birgit Conix will leave the company at the end of the year.

Sebastian Ebel, the tourism company's head for destination experiences, hotels and resorts, cruises and group purchasing, has been appointed as chief financial officer with effect from 1 January 2021.

TUI also said that Peter Krueger has been named as a new member of the executive board, with effect from 2021, in charge of M&A, group strategy, hotel joint ventures, cruise and airlines.

In a separate statement, TUI said that its share buyback program has now been completed. The 150,920 purchased treasury shares will now be transferred to employees participating in the employee share plan.

The London-listed TUI shares dropped more than 5% on the news.

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