In 2003, the decision was taken to re-launch the TABD in a new format, with a new structure, membership, and focus. Under the leadership of Douglas Daft of the Coca-Cola Company and Niall Fitzgerald of Unilever, the TABD adopted an overarching goal of the creation of a Barrier-Free Transatlantic Market. At the same time, the TABD extended the length of the role of the chair company to two years instead of one, and decided to hold two annual Executive Board meetings instead of one annual CEO conference, which were to take place on the margins of the annual US-EU Summit and the World Economic Forum meetings in Davos, Switzerland.

The ''new'' TABD Executive Board met for the first time in June 2004 on the margins of the EU-US Summit in Dromoland, Ireland, where the TABD outlined its new vision, set out the agenda priorities to achieve a Barrier-Free Transatlantic Market, and called on EU and US political leaders ''to regain a shared sense of mission that will push forward the frontiers of transatlantic cooperation to stimulate innovation, investment and the creation of new jobs.'' The response from the Summit meeting in Ireland was adoption of the goal of greater transatlantic economic integration and the start of work on a ''forward-looking strategy'' for achieving it.

In June 2005, the TABD Executive Board met on the margins of the US-EU Summit in Washington DC, where the TABD report to the US-EU Summit prioritized the goal of achieving progress towards a Barrier-Free Transatlantic Market. Among the main TABD recommendations were the creation of a Regulatory Cooperation Forum (RCF) and the development of a joint US-EU strategy to fight counterfeiting and intellectual property rights violations in third countries. Both these recommendations were adopted by the US and EU, as well as a broad-based work programme covering more than a dozen areas of activity very much in line with TABD priority recommendations. In November 2005, the TABD co-chairman met with senior US and EU government officials to take stock of progress on these issues during the US-EU Economic Ministerial meeting in Brussels, Belgium.

After the successful transition of leadership on the US side from the Coca-Cola Company to Citigroup after the June 2005 Executive Board Meeting, British Airways became the EU chair company after the January 2006 Executive Board Meeting in Davos, Switzerland, replacing Unilever.