SOUTHLAKE, Texas, March 8, 2022 /PRNewswire/ -- Sabre
Corporation (NASDAQ: SABR), a leading software and technology
provider that powers the global travel industry, today announced
the election of Sean Menke, Sabre's
Chief Executive Officer and existing Board member, to become Chair
of the Board, effective April 28,
2022, just after Sabre's 2022 Annual Meeting.
Menke will replace Karl Peterson,
who has served as Sabre's Chairman of the Board since January 2020. Peterson will remain on Sabre's
Board of Directors after his retirement as Chairman. Gregg Saretsky, who joined Sabre's Board in
June 2020 has been elected
independent Lead Director, also effective April 28, 2022. Today the Company also announced
that long-standing Board member, Gary
Kusin, would be retiring from the Board immediately before
the 2022 Annual Meeting. Kusin has served on Sabre's Board of
Directors since 2007.
"This is the right time for Sean to step into the role of
Sabre's Chair of the Board," said Karl
Peterson, current Chairman of the Company's board. "Under
Sean's leadership, Sabre is making strategic moves to help position
the Company for long-term profitable growth. The Company has
achieved significant milestones in its technology transformation,
strengthened its financial position and maintained key customer
relationships – all during unprecedented times and in the face of
significant headwinds. Sean brings extensive leadership experience
in the airline and travel technology sectors, as well as his vision
for Sabre's long-term strategy and relationships with our key
customers, investors and other stakeholders to the position of
Chair of the Board.
Peterson added, "With the separation of his President and CEO
roles, and the appointment of Kurt
Ekert as Sabre's company president, Sean is now able to
sharpen his focus on the execution of the Company's long-term
strategic plans, to achieve its vision and deliver value for our
shareholders. I am confident Sabre is well-positioned for continued
success under Sean's guidance and leadership."
The Company noted that the Board of Directors' election of an
independent Lead Director enhances the strong independent oversight
function of the Board of Directors, which is comprised of
independent directors, other than Menke, and that this newly
announced governance structure provides an effective balance
between strong strategic leadership and oversight by independent
directors.
"I would like to thank Karl for stepping in as Chairman of our
Board in January 2020, and for his
stewardship over the last two years," said Menke. "I am very
pleased that Karl will be staying on as a member of our Board of
Directors and continuing to provide important insight and guidance
as we continue on our path toward 2025."
Peterson continued, "I would also like to congratulate
Gary Kusin on his retirement from
Sabre's Board of Directors and thank Gary for his many years of
service on Sabre's Board of Directors. He has been an invaluable
advisor to the Board and to Company leadership. We wish him much
success in the future."
About Sean Menke
Mr. Menke is CEO of Sabre and has more than 20 years of travel
industry knowledge and experience using technology to drive
business success. Menke has served on its board of directors since
December 2016. Before being named CEO
in December 2016, Mr. Menke served as
executive vice president, Sabre and president of Sabre Travel
Network since October 2015. Prior to
joining Sabre, Menke's career in the airline business spanned more
than 20 years in executive leadership as the chief executive at
Frontier Airlines and Pinnacle Airlines, as well as marketing,
operations, customer experience, strategy, planning, sales,
distribution and revenue management roles with Air Canada, United
Airlines, Hawaiian Airlines and America West Airlines. He
also served as executive vice president of resources at IHS Inc., a
global information technology company. He serves as a director of
Waste Management.
About Gregg Saretsky
Mr. Saretsky joined Sabre as a director in July 2020. He retired in March 2018 from WestJet as President and Chief
Executive Officer, a position he held since April 2010 after having joined WestJet in
June 2009. During Saretsky's tenure,
WestJet doubled in size, started a regional airline subsidiary,
inaugurated long haul international operations, all while achieving
an investment-grade credit rating and recognition from Waterstone
Human Capital for Canada's Most
admired corporate culture. He was named Alberta's Business Person
of the Year for 2012 by Alberta
Venture magazine. In 2013, Saretsky was also named Top New
CEO of the Year by Canadian Business Magazine, an award bestowed on
a CEO who has transformed his company within the first five years
of his appointment. In addition, he received an Honorary Doctor of
Laws from Concordia University in 2014
and was the recipient of the David Foster Foundation Visionary
Award as Canada's National
Business Leader of the Year in 2015. Saretsky has served as a board
member of the Conference Board of Canada, Calgary Telus Convention Centre,
Tourism Vancouver, and the University of British Columbia (UBC) and is currently Board
Chair of the Fort McMurray/Wood
Buffalo Economic Development & Tourism Corporation, a Director
of RECARO, a German Industrial Company, and a Director of IndiGo,
India's largest airline and
low-cost carrier.
About Sabre Corporation
Sabre Corporation is a leading software and technology company
that powers the global travel industry, serving a wide range of
travel companies including airlines, hoteliers, travel agencies and
other suppliers. The company provides retailing, distribution and
fulfillment solutions that help its customers operate more
efficiently, drive revenue and offer personalized traveler
experiences. Through its leading travel marketplace, Sabre connects
travel suppliers with buyers from around the globe. Sabre's
technology platform manages more than $260B worth of global travel spend annually.
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
Contacts:
Media
Kristin Hays
kristin.hays@sabre.com
Heidi Castle
heidi.castle@sabre.com
sabrenews@sabre.com
Investors
Kevin
Crissey
kevin.crissey@sabre.com
sabre.investorrelations@sabre.com
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SOURCE Sabre Corporation