Second Russian quits TUI Board

By Linsey McNeill
Home » Second Russian quits TUI Board

A second Russian has quit TUI’s Supervisory Board following Russia’s invasion of Ukraine.

Vladimir Lukin, who was a member of the Board as a shareholder representative, has resigned with immediate effect.

His resignation follows that of TUI’s largest shareholder and Moscow-based oligarch Alexey Moradashov, who was no longer able to access his shares in the company due to EU sanctions.

Mr Lukin was Deputy CEO of Severgroup, a private investment company which manages the assets of Mr Mordashov.

TUI said Mr Lukin had already ended his contractual relationship with Severgroup prior to its resignation from its Supervisory Board.

He had been a member of TUI’s Supervisory Board since June 1999, and he was due to remain until 2024.

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