CWT announces new operating structure

MINNEAPOLIS, USA - EQS Newswire - 2 September 2020 -CWT^[1], the Business-to-Business-for-Employees (B2B4E) travel management platform, today announces a new operating structure aimed to accelerate innovation, transformation and growth. With immediate effect, Patrick Andersen is appointed President, RoomIt & Commercial, Niklas Andréen is appointed President, Traveler Experience & Customer, and Michelle McKinney Frymire is appointed President, Strategy & Transformation, Chief Financial Officer.

Patrick Andersen - President, RoomIt & Commercial

Niklas Andréen - President, Traveler Experience and Customer

Michelle McKinney Frymire - President, Strategy & Transformation, Chief Financial Officer

The three newly created global operating units these leaders will oversee comprise:

• RoomIt & Commercial: Global Supplier Management, RoomIt, Marketing, Product, Partnerships, External Communications, and Solutions Group;
• Traveler Experience & Customer: Traveler Experience, Global Sales, and Customer Engagement, including oversight of all industry verticals;
• Strategy & Transformation: Finance, Technology, Talent & Performance, Enterprise Projects and Strategy.

Along with these changes, Kelly Kuhn, an outstanding leader throughout her thirty-plus year career at CWT who has delivered market share growth and strong performance as Chief Customer Officer over the past four years, has decided to step back from her operating role to assume the newly created role of Special Advisor, while remaining on the Executive Leadership Team.

Lauren Aste, Chief Legal Officer, Catherine Maguire-Vielle, Chief Human Resources Officer, John Pelant, Chief Technology Officer, and Chris Vukelich, Strategic Advisor, remain in their roles and on the Executive Leadership Team.

CWT has taken a number of additional steps to weather the challenges of the pandemic and position for the future. The company recently announced a successful capital raise of $250M, backed by strong support from its bondholders, lenders and shareholders. Given the need to re-align resourcing in today's market conditions but also to protect employees, operating costs have been managed mainly through temporary furloughs and pay reductions, and more recently also through voluntary programs offered by the company that have received strong interest from employees globally.

Commenting on developments, CWT President & CEO, Kurt Ekert, said: "As we navigate and emerge from the impact of the global COVID-19 pandemic, we do so from a secure financial base, with a talented and aligned team, and looking to expand our industry leadership position. We have used the quieter lockdown period to progress a number of innovations and initiatives, with a focus on developing and delivering material value to our clients and their travelers. I commend my CWT colleagues across the world for their customer-focus and spirit."

The issuer is solely responsible for the content of this announcement.

References

1. ^{^} CWT (www.mycwt.com)