SOUTHLAKE, TX, March 8, 2022 /PRNewswire/ — Saber Corporation (NASDAQ: SABR), a leading provider of software and technology serving the global travel industry, today announced the election of Sean MenkeChief Executive Officer of Saber and current member of the Board, will become Chairman of the Board, effective April 28, 2022right after Saber’s 2022 Annual Meeting.
Menke will replace Karl Petersonwho has served as chairman of Saber’s board of directors since January 2020. Peterson will remain on the Saber board following his retirement as chairman. Gregg Saretskywho joined the Saber board in June 2020 was elected Lead Independent Director, also effective April 28, 2022. Today, the Company also announced that long-serving Board member, Gary Kusinwould retire from the board immediately prior to the 2022 annual meeting. Kusin has served on Saber’s board of directors since 2007.
“It’s a good time for Sean to take on the role of Chairman of the Saber Board of Directors,” said Karl Peterson, current Chairman of the Company’s Board of Directors. “Under Sean’s leadership, Saber is taking strategic steps 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 relationships with its key customers – all during unprecedented times and in the Sean brings to the position of Chairman of the Board of Directors extensive leadership experience in the airline and travel technology industries, as well as his vision for the Saber’s long-term strategy and its relationships with our key customers, investors and other stakeholders.
Peterson added, “With the separation of his roles as President and CEO and the appointment of Kurt Ekert As President of Saber, Sean is now able to focus more on executing the company’s long-term strategic plans, achieving its vision and delivering value to our shareholders. I am confident that Saber is well positioned to continue to succeed under Sean’s direction and leadership.”
The Company noted that the Board’s election of a Lead Independent Director reinforces the strong independent oversight function of the Board, which is comprised of independent directors other than Menke, and that this new governance provides an effective balance between strong strategic leadership and oversight by independent directors.
“I would like to thank Karl for becoming Chairman of our Board of Directors in January 2020and for his stewardship over the past two years,” Menke said. “I am very pleased that Karl will remain a member of our board of directors and continue to provide important information and advice as we continue our journey towards 2025.”
Peterson continued, “I would also like to congratulate Gary Kusin on his retirement from the Saber Board of Directors and to thank Gary for his many years of service on the Saber Board of Directors. He has been an invaluable advisor to the board of directors and management of the company. We wish him much success in the future.”
On Sean Menke
Mr. Menke is CEO of Saber and has over 20 years of travel industry knowledge and experience in using technology to drive business success. Menke has served on its board since December 2016. Before being named CEO in December 2016Mr. Menke has served as Executive Vice President of Saber and President of Saber Travel Network since October 2015. Prior to joining Saber, Menke’s career in the airline industry spanned more than 20 years in executive leadership as general manager of Frontier Airlines and Pinnacle Airlines, as well as in marketing, operations, customer experience, strategy, planning, sales, distribution and revenue management. positions 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 is the director of waste management.
On Gregg Saretsky
Mr. Saretsky joined Saber as a director in July 2020. He retired in March 2018 of WestJet as President and Chief Executive Officer, a position he held for April 2010 after joining WestJet in June 2009. During Saretsky’s tenure, WestJet doubled in size, launched a regional airline subsidiary, inaugurated long-haul international operations, while earning an investment-grade credit rating and recognition from Waterstone Human Capital for from Canada Most admired company culture. He was named Alberta Businessman of the Year in 2012 by Alberta business magazine. In 2013, Saretsky was also named Best New CEO of the Year by Canadian Business Magazine, an award given to a CEO who has transformed their business within the first five years of their appointment. In addition, he received an honorary doctorate in law from Concordia University in 2014 and received the David Foster Foundation Visionary Award as from Canada National Business Leader of the Year in 2015. Saretsky was a member of the board of directors of the Conference Board of CanadaCalgary Telus Convention Centre, Tourism Vancouver and the University of British Columbia (UBC) and is currently Chairman of the Board of Fort McMurray/Wood Buffalo Economic Development & Tourism Corporation, director of RECARO, a German industrial company, and director of IndiGo, india largest airline and low-cost carrier.
About Saber Corporation
Saber Corporation is a leading software and technology company powering the global travel industry, serving a wide range of travel businesses including airlines, hoteliers, travel agencies and travel agencies. other suppliers. The company provides retail, distribution and fulfillment solutions that help its customers operate more efficiently, generate revenue and deliver personalized travel experiences. Through its leading travel marketplace, Saber connects travel suppliers with buyers around the world. Saber’s technology platform supports more than $260 billion value of worldwide travel expenditure annually. Based at South Lake, TX, USA, Saber serves customers in more than 160 countries around the world. For more information, visit www.sabre.com.
SOURCE Saber Corporation