Page 1 of 2

Providence and Responsibility

Kuoni’s Group Executive Board

Peter Rothwell

Chief Executive Officer; British, born in 1959. After studying languages at Oxford University (UK), in 1982 Peter Rothwell embarked on an executive career that took him through marketing, product management, purchasing and sales at several Britishbased travel companies. He became Managing Director of Airtours Holidays in 1995, then CEO of Airtours UK Leisure Group in 1998. Peter Rothwell later served as COO at Thomson Travel Group and as CEO of TUI Northern Europe, where he also took over as Managing Director of TUI UK in 2004. He was appointed COO and Member of the Board of TUI AG Tourism in 2006, from where he moved to become Deputy Chief Executive of TUI Travel PLC, London, following the merger with First Choice in 2007. Peter Rothwell became CEO of the Kuoni Group on 1 January 2009.

Peter Meier

Chief Financial Officer; Swiss, born in 1965. Before Kuoni, Peter Meier was with the Sulzer corporation since 1992. A widely-experienced financial specialist, he served as a controller and head of finance at various Sulzer business units in and outside Switzerland before assuming the position of CFO of the Winterthur-based corporation in March 2007, also becoming a member of the Sulzer Executive Team. A graduate in business administration, he also holds an MBA from the State University of New York. Peter Meier became Chief Financial Officer (CFO) and member of the Group Executive Board of the Kuoni Group on 1 December 2010. He succeeds Max E. Katz in this position.

Leif Vase Larsen

Executive Vice-President Northern Region, Chief Executive Officer Kuoni Scandinavia; Danish, born in 1963. After completing an apprenticeship with Maersk Line and graduating from Copenhagen Business School, Leif Vase Larsen embarked on his professional career in 1986 as financial analyst at Bull A/S. From 1990 to 1999 he held various Controlling and Financial Management functions at the shipping company DFDS. In 2007 he completed an Executive MBA at the University of Stockholm.

Leif Vase Larsen has been with Kuoni Scandinavia since the start. During the first seven years he served as Financial Director and since 2006 as CEO. 2009 he was appointed Executive Vice-President for Northern Region and at the same time became a member of the Group Executive Board.

Stefan Leser

Executive Vice-President Southern Region, Chief Executive Officer Kuoni Switzerland; German, born in 1967. Having graduated in business administration (specialising in travel and transportation), Stefan Leser initially held a number of functions at various companies in the German travel sector. After completing an MBA in finance and strategic management at Augusta State University of Georgia, USA, he joined Atraxis AG in 1999 as Executive Vice-President Business Development, Marketing & Sales. He later moved to EDS, going on to become CEO of EDS Switzerland AG and Head of Sales & Distribution for Central and Eastern Europe. He joined Kuoni in 2005 as a member of the Group Executive Board, in the newly-created position of Executive Vice-President Corporate Development. He assumed additional responsibility for the unit Scandinavia in 2006. In 2007 he was appointed Head of Strategic Business Division Smart and CEO of Kuoni Switzerland. As part of the restructuring of the Kuoni Group in 2009, Stefan Leser was appointed Executive Vice-President Southern Region.