The Board of TUI Travel PLC is pleased to announce that William Waggott (47) will be appointed Chief Financial Officer ("CFO") of the Group with immediate effect. Will is currently a TUI Travel PLC Board member and the Group's Commercial Director. He succeeds Paul Bowtell who leaves the Board and the Group on 31 December 2010.
Will qualified as a Chartered Accountant (ACA) with Coopers & Lybrand prior to moving to Courtaulds Textiles plc. He entered the leisure travel industry when he joined Airtours plc and held a number of positions including UK Leisure Group Finance Director. In 2001 Will joined Thomson Travel Group and was appointed Chief Financial Officer of TUI AG's Tourism businesses ("TUI Tourism") in 2006. Following the merger of TUI Tourism and First Choice Holidays PLC, Will was appointed Commercial Director of TUI Travel PLC.
Commenting on Will's appointment, Peter Long, Chief Executive said:
"In Will, we already have a member of the executive team who not only has a deep understanding of tour operating but has the suitable experience and expertise to take us through our next phase of growth. In his role as Commercial Director, he has been instrumental in delivering some of the Group's key successes, including the merger integration and Canadian strategic venture. He has already established effective relationships across the finance functions that he will now control. I look forward to working closely with him in his new role."
Commenting on his appointment as Chief Financial Officer, Will Waggott said:
"The Group has achieved much since the merger in 2007 and with over 15 years in the leisure travel industry I am very pleased that I will have the opportunity to play a significant role in creating further value for all shareholders going forward."
Analysts and Investors
Paul Rushton, Head of Investor Relations
Tel: 01293 645 795
Lesley Allan, Corporate Communications Director
Tel: 01293 645 774
Michelle Jeffery, Corporate Communications Manager
Tel: 01293 645 776
Michael Sandler / Kate Hough (Hudson Sandler)
Tel: 020 7796 4133