Changes in Kuoni top management

May 11, 2005 |

Kuoni has announced changes in its top management ranks. The Group Executive Board is to be expanded by the appointment of Stefan Leser , who will be responsible for Corporate Development.

Kuoni has announced changes in its top management ranks. The Group Executive Board is to be expanded by the appointment of Stefan Leser , who will be responsible for Corporate Development. Zubin Karkaria has been named as the new CEO of Kuoni Travel (India) Ltd. Peter Diethelm is to step down as Executive Chairman of Kuoni United Kingdom & North America, ending 42 years of successful Kuoni service. And Kuoni North America`s Intrav business will report to Group CFO Max E. Katz until further notice.

The Kuoni Group Executive Board is to be enlarged by the appointment of Stefan Leser to its ranks. Leser, who is 38, can draw on extensive experience in the tourist sector. A native of Bavaria, Germany, he majored in Travel & Transportation at Kempten University of Applied Sciences before going on to hold various functions with German-based travel and tourism companies. He moved to Zurich in 1999, initially to assume a new position as Executive Vice President Business Development, Marketing & Sales at Atraxis AG. Later, as Vice President Transportation Europe, Middle East & Africa at EDS, he was instrumental in the success enjoyed in the aviation sector in these regional markets by this IT services provider. He also went on to serve as CEO of EDS Switzerland AG. Stefan Leser will join Kuoni in the course of the summer to assume overall responsibility for Corporate Development within the Kuoni Group, devising and developing sustainable innovation and growth strategies. His appointment underlines the key importance that Kuoni attaches to adopting and maintaining an effective strategic thrust.

Reto Wilhelm, a member of the Group Executive Board and currently Executive Vice-President of the Strategic Business Units Continental Europe and Incoming, is to assume additional responsibility for the Group`s Asian business activities. The new arrangement should permit the exploitation of sizeable synergies between Kuoni`s incoming and tour operating businesses in these regions.

Zubin Karkaria (38) has been appointed CEO of Kuoni India, and assumes his new position today. He succeeds Ranjit Malkani, who, having successfully established and developed Kuoni`s Indian business, will now be pursuing personal interests. Ranjit Malkani will retain his Kuoni links, however: he has been appointed Honorary Chairman of Kuoni India. Zubin Karkaria joined SOTC (which is now Kuoni India`s outbound arm) in 1991, and has been Deputy CEO of Kuoni India since October 2003. Armin Meier, Chief Executive Officer of the Kuoni Group, assumes the post of Chairman of the Board of Kuoni India. Zubin Karkaria will report to Reto Wilhelm in his new capacity.

Peter Diethelm (64) will be relinquishing his duties as Executive Chairman of Kuoni United Kingdom & North America on June 30. In doing so, he concludes 42 years of service to the Kuoni Group. He will not be severing his links entirely, however, but will continue to act in an advisory capacity for various projects surrounding Kuoni`s centenary celebrations in 2006. Peter Diethelm, who was then Managing Director of Strategic Business Unit United Kingdom, handed over the operational management of Kuoni UK to Sue Biggs in 2001. Sue Biggs will now report directly to Group CEO Armin Meier from July 1 onwards.

Intrav, the Kuoni Group`s North American subsidiary, will be temporarily subordinated to Group Chief Financial Officer Max E. Katz from July 1. As was stated in the 2004 annual report, Intrav`s performance is currently falling short of expectations. The planned strategic reappraisal of the unit and its business will now be completed. David Drier, CEO of Kuoni North America, will report to Max E. Katz.

“Kuoni is on a sound business track,” says Group CEO Armin Meier, commenting on the changes. “I am convinced that, by strengthening our Group Executive Board and making these further changes to our top management, we are excellently equipping our Group to meet and master the many challenges ahead. And with effective and forward-looking strategies in place and the right people in the right positions, Kuoni will continue its current positive development.”