SOUTHLAKE, Texas, Jan. 14, 2020 /PRNewswire/ -- Sabre
Corporation (NASDAQ: SABR), the leading software and
technology provider that powers the global travel industry,
announced that, effective today, Karl
Peterson has been elected by the Board to serve as Chairman
of the Board and that Larry Kellner
is stepping down as Chairman of the Board, effective today.
Kellner will remain on Sabre's Board until its Annual Stockholder
Meeting in April.
Kellner has chosen to step down as Chairman so that he may focus
on his new responsibilities as Chairman of the Board at Boeing.
Sean Menke, Sabre's President and
CEO said, "I am excited to have Karl serve as our Chairman, as he
has been an integral member of our Board of Directors for more than
a decade. I speak on behalf of everyone at Sabre when I say that
Larry will be missed. Larry's vast experience in the aviation
industry, as well as his board leadership experience have been
invaluable to Sabre over the past seven years. Under his
guidance, Sabre has embarked upon a transformational journey that
we believe will fundamentally change the way we retail, distribute
and fulfill travel."
"I have thoroughly enjoyed my time on Sabre's Board of Directors
and am proud of the progress Sabre has made during my tenure to
achieve its vision of becoming the new marketplace for personalized
travel," said Kellner. "At this time, however, I have decided to
pare back certain responsibilities, including my role at Sabre. I
am confident that under Karl's and Sean's counsel and leadership,
Sabre will continue to reshape the future of travel."
Peterson has served on Sabre's Board of Directors since 2007 and
served as lead independent director during 2017 when Kellner served
as Executive Chairman. In addition to his role as Chairman of the
Board, Peterson has been appointed chairman of the Board's
Governance and Nominating Committee and Executive Committee,
replacing Kellner.
A seasoned investor and former travel executive, Peterson serves
as Managing Partner of TPG Pace Group, which oversees investments
in three publicly traded companies. Previously he co-founded
and was president and CEO of Hotwire.com. He also serves as a
director of Playa Hotels and Resorts and serves as Chairman of
Accel Entertainment.
About Sabre Corporation
Sabre Corporation is the
leading technology provider to the global travel industry. Sabre's
software, data, mobile and distribution solutions are used by
hundreds of airlines and thousands of hotel properties to manage
critical operations, including passenger and guest reservations,
revenue management, flight, network and crew management. Sabre also
operates a leading global travel marketplace, which processes more
than US$120 billion of global travel
spend annually by connecting travel buyers and suppliers.
Headquartered in Southlake, Texas,
USA, Sabre serves customers in more than 160 countries around the
world. For more information visit www.sabre.com
SABR-F
Media Contact:
Kristin
Hays
Kristin.Hays@sabre.com
sabrenews@sabre.com
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SOURCE Sabre Corporation