Senior executives leave as Weitnauer restructures

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A number of senior Weitnauer executives are leaving the Swiss travel retailer amid a wide-ranging restructure, which will be completed in the coming days.

Among them are chief operating officer Asia Pacific and Far East Sunil Tuli, who left earlier this week, and Michel Stopnicer, chief operating officer responsible for retailing in the Middle East and eastern Europe. He leaves at the end of May.

A board meeting next week is expected to finalise a new structure for the group, and replacements named to handle the regional businesses of Tuli and Stopnicer.
Weitnauer is not expected to terminate any of its contracts, although its will reorganise across its regions.

The restructure, which will involve the whole group, including the retail business unit, comes as the Swiss group comes to terms with the fallout from September 11 and a difficult trading environment.

In Asia/Pacific, Weitnauer has suffered a double blow in recent months, losing its Singapore Changi fragrances and cosmetics contracts at both terminals one and two to Nuance-Watson. This severely dilutes the company's Asian presence, leaving it with electronics outlets at the airport and downtown, and with several other regional management and consultancy deals.