World-Class Leadership Team to Guide Continued Transformation of Company’s Business Model; Focus on Strategies to Address Consumerization and Globalization of Corporate Travel Sector
ME NewsWire/Business Wire
NEW YORK - Wednesday, July 2nd 2014
$900 Million Capital Infusion to Be Invested in Technology, Data & Insights, Global Expansion, and Partnerships
Following the announcement that the joint venture for American Express Global Business Travel (“GBT” or “the Company”) has been completed, today the Company announced new members of its executive team. In addition to the previous appointments of Greg O’Hara as Chairman of the Board and Bill Glenn as President and Chief Executive Officer, the Company has named Pat Bourke as Chief Administrative Officer, Norma Corio as Chief Financial Officer, and JoAnne Kruse as Chief Human Resources Officer.
“I am delighted to welcome Pat, Norma, and JoAnne to GBT during this exciting period of transformation,” said Bill Glenn. “Together with our existing world-class management team, they will play crucial roles in developing our plans to deliver exceptional value to our customers and partners. With our brand heritage, global network, and strong capabilities honed over decades of connecting the world through travel, GBT is a leader in our industry. That is a privilege and a responsibility we take very seriously. But our industry, like others, must evolve along with the consumerization and globalization of modern commerce. Whether it’s mobile functionality, dynamic apps or simply easier and faster ways to do business, American Express Global Business Travel now has the resources to further innovate and change the way that business travel operates.
“With the creation of the joint venture and the infusion of $900 million of capital from our investors, we now have even greater resources that the marketplace requires to not only stay ahead of the curve, but to create the curve. For American Express Global Business Travel, technology is an area of investment, expertise and innovation, meeting the needs of the traveler and also offering control and transparency to the travel manager or meeting professional. Our immense data repository will deliver even greater value to our customers and partners. With our expanding footprint worldwide and new capabilities, we will continue to offer clients global reach complemented by local expertise. In short, we believe that we now have a formula like no other.”
Greg O’Hara, Chairman of the Board, is an investor with significant experience in the travel industry. He founded Certares and is currently its Chairman and Chief Executive Officer. Mr. O’Hara is currently a member of the Board of Directors of Travel Leaders Group, and has previously served on the boards of Carlson Wagonlit Travel, Travelport, Worldspan Technologies, and various other companies. Prior to founding Certares, he was the Chief Investment Officer at JPMorgan Chase's Special Investments Group and was also a Managing Director at One Equity Partners. Earlier in his career, he served as an Executive Vice President of Corporate Planning and Development of Worldspan Technologies and Worldspan, a Senior Vice President of Sabre, Inc., and in various other positions. He holds an M.B.A. from Vanderbilt University.
Bill Glenn, President and Chief Executive Officer, previously served as President of Global Commercial Services at American Express Company, where he had responsibility for its Global Corporate Payments and Global Business Travel business units. Mr. Glenn joined American Express in 2002 as President of its merchant services business in North America. In 2007, he was named President, Global Merchant Services and assumed worldwide responsibility for the merchant network, which serves as acquirer, processor and marketing partner for the millions of merchants around the world who accept the American Express Card. From 2008 to 2014, Mr. Glenn was an Executive Officer of American Express and a member of the Operating Committee, responsible for setting American Express’ strategic direction and priorities. Mr. Glenn joined American Express after 12 years at Pepsi-Cola, where he was President of Pepsi-Cola North America’s Food Service Division, Vice President of Operations for the Fountain Beverage Division of Pepsi-Cola, and General Manager of Pepsi-Cola’s bottling business in New Jersey. He began his career as a sales representative for Procter & Gamble and held a number of sales management positions with the company throughout the East Coast. Mr. Glenn holds both a bachelor’s degree and a master’s degree from Lehigh University.
Pat Bourke, Chief Administrative Officer, is focused on centralizing key organizational operations and ensuring a seamless exit from the Transitional Services Agreements (TSA) that are currently in place between GBT and American Express. Mr. Bourke brings a wealth of experience to this role from previous positions with travel industry leaders Worldspan and Travelport, as well as over 25 years of operational and sales experience in high technology companies. He served most recently as a partner in Blackstone’s private equity group with responsibility for technology strategy and sourcing for the portfolio companies as well as carve-out activities for newly acquired companies. At Perot Systems, Mr. Bourke was a member of the startup team that built the company into a global technology services provider. Mr. Bourke started his career at Electronic Data Systems working as a systems engineer. Mr. Bourke graduated with a B.S. in Industrial Management from Arkansas State University.
Norma Corio, Chief Financial Officer, is responsible for overall financial management of the company, its financial reporting and transparency, and for multiple corporate functions including Controller, Treasury, Tax and long-range planning. Most recently, Ms. Corio served as Co-President and a Managing Director of Miller Buckfire, a leading restructuring firm focused on providing strategic and financial advisory services in distressed situations. Prior to joining Miller Buckfire, Ms. Corio spent 30 years working at JPMorgan Chase & Co., most recently serving as Head of the Special Investments Group, which invested in financially challenged companies. In August 2008, Ms. Corio was appointed Treasurer of JPMorgan Chase, responsible for the direct management of the firm's $2.3 trillion balance sheet, capital, global funding and liquidity, insurance services, and relationships with credit rating agencies. Previously, she was Head of Restructuring in the firm's Investment Banking division. Ms. Corio also held positions in corporate finance and lending, investor relations, and credit and risk management. Ms. Corio earned an MBA in Banking and Finance from Pace University, and a BA in Economics from LeMoyne College.
JoAnne Kruse, Chief Human Resources Officer, is responsible for all human resource functions and for developing and engaging the company’s global employee base in order to drive business growth. Most recently, Ms. Kruse was the founder and partner in a HR consulting firm, Human Capital Partners, which provided services to companies in the areas of talent development, rewards, and organizational and system redesign in support of acquisition and integration projects. Prior to founding HCpartners, Ms. Kruse served as Executive Vice President of Human Resources for Travelport LTD where she was responsible for global human resource functions including Rewards, Talent, Engagement, Facilities, Corporate Social Responsibility and Internal Communications. Ms. Kruse also held the role of Executive Vice President of Cendant’s Travel Distribution Services Division, the predecessor to Travelport. Ms. Kruse graduated with a BS in Industrial and Labor Relations from Cornell University and earned her MA in Psychology from Columbia University.
About American Express Global Business Travel
Positioned at the intersection of commerce and travel, American Express Global Business Travel offers its customers a comprehensive network, service dependability, and deep insight to help move people and businesses forward. American Express Global Business Travel provides leading travel solutions, integrated consulting services, proprietary research, and end-to-end meetings and events capabilities. These innovative offerings enable customers to optimize the return on their travel and meetings investments. Learn more atwww.amexglobalbusinesstravel.com.
American Express Global Business Travel is part of one of the world’s largest travel agency networks with locations in nearly 140 countries worldwide.
American Express Global Business Travel
Christine Elliott, 212-640-0622
Diana Postemsky, 212-640-9203
Katrina Robson, +44 (0)1273 215172
Sarah Blades, +61 2 9271 1467