Kuoni restructures to focus on growth
Kuoni has today unveiled a restructuring with a focus on three worldwide operating divisions.
The shake-up under chief executive Peter Rothwell sees Kuoni UK come under the Outbound Europe arm together with operations in its home market of Switzerland and in France, Itlay, Spain, Benelux and also recently acquired Octopus Travel.
The other two divisions cover Global Travel Services, including wholesler GTA - acquired?from Travelport in May -?and Emerging Markets and Specialists.
The group is to focus on four main areas of growth – an expansion of activities in Asia, development of European tour operations, integration of GTA and development of existing and new growth areas.
The changes will be in place from October 1 with the group continuing to forecast net revenue for the current fiscal year of 5 billion Swiss francs.
Rothwell said the new make-up of three new divisions “is the logical consequence of our growth strategy, our acquisition activities and the results of our investment and cots reduction programme, which goes to the end of 2011”.
He added: “With the acquisition of GTA, Kuoni has rapidly become a broad-based global travel company with significant operations in Asia.”
The new structure enables the company to reposition existing tour operations and businesses to create cross-company synergies and exploit high growth activities, particularly in Asia, Rothwell said.
The make up of the group’s executive board rema