Tom Klein, president and CEO of Sabre Corporation (NASDAQ: SABR) today announced that he will resign from Sabre and its Board of Directors effective December 31, 2016 and will continue to serve as CEO while the Board conducts a formal search for his successor.
“It’s a tremendous honor to serve as president and CEO of Sabre and to work with our talented team around the globe. With our leading products and rapid technology innovation for the travel industry, we are doing more today than ever to help our customers succeed. We have transformed Sabre into a dynamic software company and the business is positioned for continued consistent growth, so my successor will have a strong hand to play,” said Klein. “By making this announcement now, the Board of Directors will have ample time to identify a successor as we work through a smooth transition to keep the company’s growth plans and our customer deliverables on course. Then I will be able to turn my personal attention to new opportunities knowing that I am leaving Sabre on firm ground, with a great management team and a bright future as a global technology leader.”
“The Board thanks Tom for his service and is appreciative of the many contributions he has made to the growth and success of Sabre over the past 22 years,” said Larry Kellner, Chairman, Sabre Board of Directors. “Under his leadership and vision, Sabre is clearly positioned as an innovative technology company and our business has been reinvented to ensure our solutions meet the changing needs of the very dynamic travel industry. During this transition period it will be business as usual for Sabre’s customers, employees, and suppliers as the Board works to identify a successor.”
Klein’s career with Sabre began while it was still a unit of AMR Corp., where he originally held sales and marketing roles with American Airlines, and then joined Sabre, leading a joint venture in Mexico. He went on to serve in a number of executive roles, including group president of both Sabre Travel Network and Sabre Airline Solutions. He was named president of Sabre in 2010 and CEO in 2013.
Sabre reaffirms its previously announced full-year guidance and medium-term goals, and expects to continue to define and lead the travel technology industry by investing in its core strengths, driving value for its customers, and out-innovating its competitors.