Sabre Corporation (NASDAQ: SABR), a leading software and technology company powering the global travel industry, today announced that Sean Menke, currently Chairman of the company's Board of Directors and its Chief Executive Officer or CEO, will become Chairman only. or "Chair" of the Sabre Board of Directors, effective April 27, 2023. At that time, Kurt Ekert, currently Chairman of Sabre, will become the CEO of the company, reporting to the Board of Directors. Ekert has also been nominated as a director for election at Sabre's 2023 Annual Meeting, to be held on April 26, 2023. These moves are being made as part of the company's and Board of Directors' ongoing succession planning.
Menke joined Sabre in 2015 as president of its largest business division, before being promoted to CEO in late 2016. Under Menke's leadership, the company established and executed bold plans to reimagine the future of travel enabled by its technology transformation, key strategic partnerships and building a leadership team to deliver on that vision.
Menke joined Sabre in 2015 as president of its largest business division, before being promoted to CEO in late 2016. Under Menke's leadership, the company established and executed bold plans to reimagine the future of travel enabled by its technology transformation, key strategic partnerships and building a leadership team to deliver on that vision.
Regarding the next phase in Sabre's leadership transition, Menke stated, “It has been an honor and a privilege to help lead Sabre for the past eight years. I am proud of what our teams have accomplished and how we have served our customers in unprecedented times. It has been immensely rewarding to see the dedication and success of our team as Sabre continues to transform itself to become the preferred and trusted technology partner in travel. I look forward to transitioning into the role of Chairman of the Board and welcome Kurt as our new CEO. He has been a driving force at Sabre for the past fourteen months and I am confident that he will continue to successfully lead this organization well into the future."
Gregg Saretsky will continue to serve as lead independent director on the Board of Directors, providing a good balance between strong strategic leadership and oversight by independent directors.
Added Saretsky: “I know I speak for the entire Sabre group of directors when I say that Sean has been an incredibly strong and successful leader over the past eight years, especially in those unprecedented times during the global pandemic. He leaves behind a tremendous legacy, including an ambitious multi-year strategy that the leadership team will continue to advance. We thank Sean for his outstanding leadership and service, and we are pleased to continue to serve alongside him as CEO.”
“We look forward to Kurt joining the Board of Directors when he takes over as CEO of the company. He is an energetic and future-focused leader with the experience, operational and technical acumen, as well as industry perspective, to successfully execute Sabre's strategic plans."
Ekert responded: "I am proud to assume the role of CEO at Sabre and look forward to continuing to advance our strategy while fostering a winning culture of empowerment, innovation and performance. I look forward to leading this company through its next chapter and I am confident that we have the ability to significantly grow our business and deliver long-term shareholder value.”