The tour operator replaces its top management.
(Photo: dpa)
Dusseldorf The ailing Munich travel group FTI exchanges its board of directors and the supervisory board. As of July, Chief Information Officer (CIO) Karl Markgraf will replace the previous CEO Ralph Schiller at the top operational level. FTI announced this on Friday. The head of the supervisory board, Wolfgang Altmüller, is also losing his position. He will also be replaced in July by the Egyptian billionaire and majority shareholder Naguib Sawiris.
Europe’s third largest tour operator has been under enormous pressure for months. First, the highly indebted group looked for a financially strong partner and negotiated a takeover with the Rewe travel subsidiary DER Touristik. But the talks have now apparently collapsed.
In March, it became known that FTI was involved in a widespread data scandal. The Handelsblatt reported that Germany’s largest travel cooperation, Raiffeisen Tours Cooperation (RTK), passed the group sales figures from competitors and hundreds of travel agencies for years. FTI then used the data for a sales offensive at the expense of competitors.
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