Travel and technology provider Sabre Corporation announced that Larry Kellner has stepped down from his chairman’s post and the company has named Karl Peterson to replace him. Kellner stepped down from the post to focus on his new role as chairman of the board at Boeing. Kellner will remain on Sabre’s board until its annual stockholder meeting in April, the company said.
Sean Menke, Sabre’s president and CEO said, “I am excited to have Karl serve as our chairman, as he has been an integral member of our board of directors for more than a decade. I speak on behalf of everyone at Sabre when I say that Larry will be missed. Larry’s vast experience in the aviation industry, as well as his board leadership experience have been invaluable to Sabre over the past seven years. Under his guidance, Sabre has embarked upon a transformational journey that we believe will fundamentally change the way we retail, distribute and fulfil travel.”
Peterson has served on Sabre’s board of directors since 2007 and served as lead independent director during 2017 when Kellner served as executive chairman. In addition to his role as chairman, Peterson has been appointed chairman of the board’s Governance and Nominating Committee and Executive Committee, replacing Kellner.
Peterson serves as managing partner of TPG Pace Group, which oversees investments in three publicly traded companies. He co-founded and was president and CEO of Hotwire.com. He also serves as a director of Playa Hotels and Resorts and serves as chairman of Accel Entertainment.