SOUTHLAKE, Texas–(BUSINESS WIRE)–Sept. 21, 2006–Sabre Holdings
Corporation (NYSE: TSG) today announced that its board of directors
has elected Christopher J. (CJ) Fraleigh and Ronald V. Waters III to
the board, effective immediately.
“We are very pleased to welcome CJ and Ron to our board,” said Sam
Gilliland, Chairman and CEO, Sabre Holdings. “Both have deep
backgrounds with leading global retail brands and that depth and
experience will be invaluable as we continue the transformation of our
company.”
Fraleigh and Waters are expected to be independent directors and
join the Audit Committee, Compensation Committee and Governance and
Nominating Committee. With the addition of Fraleigh and Waters as
independent directors, expanding the board to ten members, ninety
percent of the board of directors would be independent.
Fraleigh is chief executive officer of Sara Lee Food & Beverage
and a senior vice president of Sara Lee Corporation. Fraleigh joined
Sara Lee in January 2005 in his current position. Prior to joining
Sara Lee, he served as general manager for General Motors’
GMC-Buick-Pontiac division. Before joining General Motors as executive
director of advertising and corporate marketing in 2001, he was vice
president, colas at PepsiCo. He joined PepsiCo in 1989 serving in
positions of increasing responsibility. Fraleigh earned his bachelor’s
degree from Lehigh University and his master of business
administration degree from Columbia University.
Waters most recently served as Chief Operating Officer for the Wm.
Wrigley Jr. Company, Chicago, Illinois, the world’s leading chewing
gum manufacturer, and was responsible for Wrigley’s worldwide
commercial operations, supply chain and strategy. Waters, who retired
from Wrigley in April, had been COO since December 2003 after being
the company’s Chief Financial Officer for four years. He began his
business career with KPMG Peat Marwick and served as a partner for the
last decade of his nineteen years with the firm. In 1993, he joined
the Gillette Company, serving in positions of increasing authority
including Vice President and Corporate Controller. Waters graduated
from Trinity College with a degree in History and Economics and
received his Masters in Accounting from New York University, Stern
School of Business.
Other members of Sabre Holdings’ board of directors include
Gilliland, chairman and chief executive officer; Royce S. Caldwell,
retired former vice chairman of SBC Communications, Inc. (now AT&T
Inc.); Richard G. Lindner, senior executive vice president and chief
financial officer for AT&T Inc.; Glenn W. Marschel, Jr., chief
executive officer of Netnumber; Bob L. Martin, independent business
executive and retired president and chief executive officer of
Wal-Mart International; Pamela B. Strobel, retired executive vice
president and chief administrative officer of Exelon and president of
Exelon’s Business Services Company (BSC); Mary Alice Taylor,
independent business executive and former chairman and chief executive
officer of HomeGrocer.com; and Richard L. Thomas, former chairman of
First Chicago NBD Corp. and The First National Bank of Chicago.
About Sabre Holdings
Sabre Holdings connects people with the world’s greatest travel
possibilities by retailing travel products and providing distribution
and technology solutions for the travel industry. Sabre Holdings
supports travelers, travel agents, corporations, government agencies
and travel suppliers through its companies: Travelocity, Sabre Travel
Network and Sabre Airline Solutions. Headquartered in Southlake,
Texas, the company has approximately 9,000 employees in 45 countries.
Full-year 2005 revenues totaled $2.5 billion. Sabre Holdings, an S&P
500 company, is traded on the NYSE under the symbol TSG. More
information is available at http://www.sabre-holdings.com.
Statements in this release which are not purely historical facts
or which necessarily depend upon future events, including statements
about director independence or committee memberships, or other
statements about anticipations, beliefs, expectations, hopes,
intentions or strategies for the future, may be forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended. Readers are cautioned not to place
undue reliance on forward-looking statements. All forward-looking
statements are based upon information available to Sabre Holdings
Corporation on the date this report was submitted. Sabre Holdings
Corporation undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Any forward-looking statements involve
risks and uncertainties that could cause actual events or results to
differ materially from the events or results described in the
forward-looking statements, including risks or uncertainties related
to Sabre Holdings Corporation revenues being subject to adverse
changes to our travel supplier relationships and potential substantial
decreases in travel transaction volumes. Sabre Holdings Corporation
may not succeed in addressing these and other risks. Further
information regarding factors that could affect our financial and
other results can be found in the risk factors section of Sabre
Holdings Corporation’s most recent filing on Form 10-K with the
Securities and Exchange Commission.
CONTACT: Media Contact:
Sabre Holdings
Michael Berman, 682-605-2397
michael.berman@sabre-holdings.com
or
Investor Relations:
Sabre Holdings
Karen Fugate, 682-605-2343
karen.fugate@sabre-holdings.com
SOURCE: Sabre Holdings Corporation