Tui chief Fritz Joussen has played down the prospect of Tui being significantly impacted by sanctions on high-value Russian individuals, such as Alexey Mordashov – the group’s largest single shareholder.
Joussen tackled the issue head-on in a letter to Tui staff on Monday (28 February), in which he acknowledged Mordashov’s approximately one-third stake in the group, reported to be around 34%.
"Some of you have asked me about our largest single shareholder Alexey Mordashov and our position with him," said Joussen. "Mr Mordashov has been a Tui shareholder for around 15 years and has held about a third of our company since he propped it up during the Covid crisis."
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