Leading global travel technology provider, Sabre, has appointed Rick Simonson as executive vice chairman (EVP) and chief financial officer (CFO). Having served in similar roles at several technology companies, including Nokia Corporation, he’s going to lead the company’s global finance organization, accountable for all finance and controls, reporting, investor relations, and mergers and acquisitions.
Simonson most recently served as CFO and president, business operations at Reardon Commerce. Sooner than that he spent nearly 10 years in different global roles at Nokia in Helsinki, Zurich and Long island, including EVP and general manager of Nokia’s Cellphones division, and EVP and CFO, which he held for over five years. He was also with Barclays Capital and Bank of America Securities serving the telecom, media, and technology industries. He currently serves at the boards of Electronic Arts and Silver Spring Networks.
“Rick has an extraordinary combination of intensive global finance, operational, and capital markets experience targeting technology sectors, and a proven track record as an executive and board member for varied private and public companies. This makes him an excellent fit for Sabre,” said Sam Gilliland, chairman and CEO, Sabre Holdings. “He is a sturdy and experienced leader who will build on our greatest-in-class finance and operational capabilities.”
Simonson replaces CFO, Mark Miller , who’s leaving the corporate to explore opportunities with other portfolio companies of TPG or Silver Lake, both private equity firms that own Sabre.
“I’m hugely appreciative – and that i know I speak for TPG and Silver Lake in addition – of the tremendous leadership Mark has provided for our finance organization over his nearly four years as CFO, and through the 18 years he was with Sabre. We would like him the correct,” said Gilliland.
Sabre is the world’s largest SaaS provider to the aviation industry, with its flagship reservations system utilized by fast growing global carriers including Aeroflot, AeroMexico, Etihad Airways, JetBlue, LAN, Virgin America and Virgin Australia. Among the world’s largest airlines on the earth also use Sabre’s IT solutions. Within the last five years, Sabre expanded its SaaS model to hotels, and is now the fastest growing provider of property management, reservations and distribution solutions within the hotel industry. The corporate also operates the world’s largest market for travel buyers and suppliers, and owns online travel agencies, Travelocity.com and lastminute.com. It has large IT development centers in Southlake, Texas; Bangalore, India; Krakow, Poland, and Buenos Aires, Argentina.
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