The Southlake-based Sabre Corporation’s chairman is stepping down to take on the chairman role at embattled aerospace company Boeing.
Sabre, a leading software and technology provider, announced on Jan. 14 that Karl Peterson replaced the outgoing Larry Kellner, who decided to “focus on his new responsibilities as Chairman of the Board at Boeing.”
Boeing, amid a market fallout following the two crashes of its 737 Max jetliner that killed 346 people last year, is currently undergoing a leadership transition.
On Monday, David Calhoun assumed the role of president and CEO at Boeing after the firing of former leader Dennis Muilenburg.
“With the strength of our team, I’m confident in the
future of Boeing, including the 737 MAX,” Calhoun said in his formal announcement on Monday.
Kellner will remain on Sabre’s Board until its Annual Stockholder Meeting in April, Sabre said.
“I speak on behalf of everyone at Sabre when I say that Larry [Kellner] will be missed,” Sabre’s president and CEO Sean Menke said in a statement. “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.”
Kellner initially joined Sabre in September 2013 as a non-executive Chairman of the board of directors. Kellner had previously taken various executive roles at Continental Airlines.
Kellner has also been serving on the boards of The Boeing Company since 2011.
“I have thoroughly enjoyed my time on Sabre’s Board of Directors and am proud of the progress Sabre has made during my tenure to achieve its vision of becoming the new marketplace for personalized travel,” Kellner said in a statement. “At this time, however, I have decided to pare back certain responsibilities, including my role at Sabre. I am confident that under Karl’s and Sean’s counsel and leadership, Sabre will continue to reshape the future of travel.”
Peterson, the incoming non-executive chairman of the board at Sabre, serves as Managing Partner of TPG Pace Group, the special purpose acquisition arm of Fort Worth-based TPG.