Zubin Karkaria, Kuoni Group’s head of VFS global division, has been promoted to chief executive.

Karkaria replaces Peter Meier who is leaving the company.

In the same announcement Kuoni also said that it would restructure its group travel business, at a cost if £13 million. The company will also cut 350 full-time posts.

Kuoni changes focus

In June Kuoni completed the sale of its European tour operating units and is currently finalising the sale of its Asian businesses.

The disposals mean that the company is now focused on providing services for the global travel industry and governments.

Kuoni Group’s chairman Heinz Karrers said: “The Kuoni Group has been transformed from a broadly based travel company pursuing a wide range of very different activities into a focussed global service provider for the professional travel industry and governments.

“Such an in-depth new strategic direction presents a number of challenges and places heavy demands on management especially in fast-changing markets.

“After a critical review of the strategic direction, the board of Directors has decided to accelerate its implementation.”