Sabre Holdings Board Elects Two New Members
September 21 2006 - 8:00AM
Business Wire
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.
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