Sabre Corporation said its chief financial officer, Rick Simonson will be retiring from the position.
The company said in a that Rick Simonson, 59, has notified Sabre of his intention to retire from his role as CFO of Sabre by the end of 2018. To help ensure an orderly transition, Simonson will step down from his current position once a successor is appointed, but will remain with Sabre as a senior advisor. The company has initiated an internal and external search to fill the CFO position.
“Rick has been an outstanding CFO and has played a key leadership role at Sabre since 2013,” said Sean Menke, president and CEO of Sabre. “We are very appreciative of his many significant contributions to Sabre, including leading our IPO, focusing our business portfolio through the successful divestiture of non-core businesses, helping build the new leadership team and implementing our improved organizational structure. Personally, I would like to thank Rick for being a great partner to me as I took on my CEO responsibilities in 2017. Rick has laid a strong financial foundation for Sabre as we embark on our next leg of growth during a time of evolution across the industry.”
Simonson said, “It has been a pleasure to serve as CFO of Sabre for these past five years, and I’m proud of the improvements we have made during that period. With the full leadership team in place, the timing is right to transition to the next CFO of Sabre as we execute on Sabre’s focused strategy to lead the travel technology industry and deliver long-term value through prioritized, strategic investment.
He added that “I look forward to continuing to work with the company to help ensure this smooth transition and to assist Sean and the leadership team thereafter.”