TORONTO – October 27, 2026 -- Tully Luxury Travel has appointed Steven Salm as Chief Executive Officer, and he has bought founder Mary Jean Tully's remaining shareholding, making him a co-owner of the business. Tully steps down as CEO after nearly four decades and stays on as Brand Ambassador.
Salm buys the founder's stake and joins Jacobs as co-owner
Salm now holds equity alongside Executive Chairman and majority shareholder Clive Jacobs. The source does not disclose the terms of the share purchase.
Jacobs made the appointment. He and Salm will jointly set long-term strategy, while Salm runs day-to-day operations and growth as CEO.
Salm moves up from COO after about one year at the firm
Salm joined Tully as Chief Operating Officer in 2025 and was named CEO in October 2026. Jacobs said Salm had "proven in a short time" that he is the leader the company needs for its next chapter.
Salm previously founded and led PLANTA as CEO, building a multi-market restaurant portfolio. He also founded Chase Hospitality Group, where he led development and operation of flagship restaurant concepts. Earlier, he held leadership roles in large-scale operations at Maple Leaf Sports & Entertainment.
Jacobs has controlled Tully since buying out financial investors in 2018
Jacobs became Executive Chairman of Tully in 2014 and acquired control in 2018 by buying out its financial investors. He says he remains fully committed to the company and deeply involved in its future.
Jacobs co-founded holiday autos in 1988 and built it into the world's largest leisure car rental broker, operating across 30 countries, before lastminute.com plc acquired it in 2003. In 2009 he bought Travel Weekly, the foundation of Jacobs Media. Its brands now include Travel Weekly, The Caterer, Aspire and Connections Luxury.
Tully will continue to represent the company as Brand Ambassador and has said she will support Salm as he leads the firm.