Waggott is currently overseeing the sale of Tui’s specialist portfolio, Travelopia, and will take charge of brands externally from Tui upon the deal’s completion.
Waggott’s decision to leave his position on the board came “in order to avoid any conflict of interest and in terms of good corporate governance” during the Travelopia sale, a Tui statement said.
During his time with the company Waggott also headed up LateRooms.com and Hotelbeds Group.