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Kuoni boss to step down

Switzerland's leading tour operator, Kuoni, has announced its chief executive, Armin Meier, will leave the company by the end of the month.

The company said both sides had agreed to end the contract amid differences of opinion over the reforms decided in May and their implementation.

Kuoni said it would seek an external successor to Meier, who has been CEO since 2005. Max E. Katz will take over ad interim.

Kuoni has made a number of acquisitions in Europe and emerging markets and boosted its position in the premium and specialist travel market.

The Kuoni Group with business units in Switzerland, Scandinavia, Britain and Asia posted net profits of SFr115.7 million ($102 million) last year. It had a staff of just over 7,500.


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