A highly regarded financial executive and
business partner, Barnett to step down on Aug. 22
Company hires industry veteran Mike Randolfi as his successor
SOUTHLAKE, Texas, July 28,
2022 /PRNewswire/ -- Sabre Corporation (NASDAQ:
SABR), a leading software and technology company that powers
the global travel industry, today announced the retirement of its
chief financial officer, Doug
Barnett. Barnett has been an integral part of Sabre's
executive leadership team since 2018 when he joined the company as
its CFO. Barnett will be succeeded by Mike
Randolfi who joins the company on Aug. 22. Barnett will remain with Sabre through
Oct. 30 allowing for a period of
transition between the two leaders.
Sean Menke, Sabre's Chair of the
Board of Directors and CEO, said, "On behalf of the Board of
Directors and our executive leadership team, I would like to thank
Doug for his dedication and contributions over the last four years.
We are grateful for the leadership, partnership and financial
acumen he demonstrated, especially during the COVID-19 pandemic, as
we took decisive steps to strengthen Sabre's financial position,
protect our team members, enhance our business, and provide
continuation of service and support to Sabre's customers during
unprecedented times. Doug has been a great colleague and we wish
him well in his retirement."
During his tenure at Sabre, Barnett oversaw finance, accounting,
treasury, investor relations, corporate development, real estate
and facilities. He led several critical efforts for the company,
including complex capital market transactions, the successful
divestiture of its AirCentre operations business, the strategic
acquisitions of Radixx and Nuvola, the modernization of the
company's global billing systems, rationalization of its real
estate footprint, and the development of the company's multi-year
financial outlook. Also known as a leader focused on culture and
teamwork, Barnett leaves behind a strong financial leadership team
at the company.
Barnett will be succeeded by industry veteran, Mike Randolfi, who plans to join the company on
Aug. 22.
Menke continued, "Looking ahead, I believe Mike's industry
expertise and public company experience make him the ideal next CFO
for Sabre as we accelerate the execution of our strategic plans and
continue to focus on delivering long-term value to our
stockholders. Mike is a highly respected and experienced financial
leader in the travel and technology industries, including having
led finance organizations at several publicly traded companies. A
proven financial partner, Mike also brings an operational focus
that will be critical as we continue to position Sabre for
growth."
"Sabre sits at the intersection of travel and technology, which
is an exciting place to be at this point in the global recovery,"
said Randolfi. "I believe the company is well-positioned and has a
strategic plan in place that is designed to create value for its
shareholders by delivering value to its customers and, ultimately,
the end traveler. I look forward to joining the leadership team at
such an important time and to playing a meaningful role in helping
the company achieve its vision."
About Mike Randolfi
Randolfi joins Sabre from BFA Industries where he served as
chief financial officer. Prior to that role, he served as chief
financial officer at Adtalem Global Education and Groupon where he
helped solidify the company's strategy with a focus on execution
and driving results. Before Groupon, Randolfi served as chief
financial officer at Orbitz Worldwide where he drove a number of
substantial operational improvements and played a significant role
in the eventual sale of the company to Expedia.
Prior to Orbitz, Randolfi spent 14 years with Delta Air Lines in
a variety of executive financial roles culminating in senior vice
president, controller. At Delta, he helped lead the analysis,
integration and synergy achievement associated with the merger with
Northwest Airlines, a $14 billion
company.
He has an MBA from Emory
University's Goizueta Business School and a bachelor's
degree in finance and accounting from the University of South Florida. Randolfi is also a
Certified Public Accountant.
The company also announced today that it has hired Garry Wiseman to succeed Wade Jones as the company's chief product
officer of Travel Solutions, reporting to the company's president
Kurt Ekert. Wiseman will join Sabre
next month. Jones plans to step away from Sabre at the end of
September, after a period of transition between the two
leaders.
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 fulfilment 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