Exhibit 99.1
Sabre Announces Changes to its Board of Directors
Company elects Sean Menke Chair of the Board; Gregg Saretsky named Independent Lead Director
SOUTHLAKE, Texas – Mar. 8, 2022 – 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.”
