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Travel Industry News |
Thursday November 20th, 2008 |
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Travelport to Organize Under Three Global Businesses-Galileo, Orbitz and Gullivers Travel Associates (GTA) |
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Global Leadership Teams Appointed to Manage the Travelport GDS and Wholesale Travel Content Businesses |
Company's New Decentralized Structure to Sharpen Focus on Customer-Centric Operating Plans
Company Reiterates Target of $75 Million in Run Rate Cost Savings by Year End December 2007
TDS Investor (Bermuda) Ltd., the parent company of the Travelport group of companies, today announced that Travelport will organize under three global businesses -- Galileo, Orbitz Worldwide and Gullivers Travel Associates (GTA) on January 1st, 2007. The Company also announced that Travelport will establish a decentralized structure to optimize customer service.
"The reorganization of our business exemplifies our continued focus on improving our processes, efficiency and quality to get closer to our customers and deliver even greater value," said Travelport's CEO and President, Jeff Clarke. "As we transform Travelport into a more nimble, customer-centric and cost-effective business, our strong focus on the underlying economics, investment and cost drivers must transcend all of our initiatives and decisions for continuous improvement.
"Further, we believe that a decentralized structure, in which operating plans are built around a global customer base, will enable decisions to be made more quickly and easily-re-creating a company that's faster to market and more competitive than ever."
In connection with the reorganization, leadership changes have been made to manage the Travelport GDS and wholesale travel content businesses on a worldwide basis.
Gordon Wilson, 40, previously president and CEO of the Business Group for EMEA, Asia and Pacific, has been named president and CEO of Galileo. Ken Esterow, 42, who served as president and CEO of the Travelport Business Group, Americas, has been appointed as the president and CEO of GTA. Steve Barnhart, 44, was recently appointed as president and CFO of Orbitz Worldwide and will continue to serve in that capacity. All three executives will report directly to Mr. Clarke.
As previously disclosed on a recent conference call to discuss the Company's second quarter 2006 financial results, Travelport reiterated that it has targeted $75 million of run rate savings that the Company expects to achieve through the reorganization and other actions by the end of 2007.
About Travelport
Travelport is one of the world's largest and most geographically diverse travel companies. With a network of over 8,000 local travel professionals and customers working in more than 130 countries, Travelport delivers greater choice, more content and cost savings to travelers, travel professionals and travel suppliers every day. Travelport offers a wide range of business and consumer services, from distribution technology and travel packaging to retail sales and solutions. Travelport operates over 20 leading brands, including Orbitz, an online travel agency; Galileo, a global distribution system (GDS); and GTA, a wholesaler of global travel content.
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