Sabre Corporation chief financial officer Rick Simonson has notified the company that he intends to retire from the role by the end of 2018.

Simonson said he will continue as CFO until a successor has been appointed and will remain with the company as a senior advisor afterward. Sabre says it has begun an internal and external search for his replacement.

Sean Menke, president and CEO of Sabre, commented: “Rick has been an outstanding CFO and has played a key leadership role at Sabre since 2013. 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 organisational 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 added: “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 prioritised, strategic investment. 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.”

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