Online Travel Corporation PLC
17 October 2000
Online Travel Corporation
Announces New Board Appointments
Robert McDonald Promoted To Board As Technology Director
&
Kyril Saxe-Coburg, Appointed As A Non-Executive Director
London, UK: Online Travel Corporation ('OTC'), the travel technology and
distribution company, today announced the appointment of a new Technical
Director and a new non-executive director.
Robert McDonald (35) is promoted to the main Board as Technical Director.
Prior to joining OTC in April 2000, Robert spent nine years at WORLDSPAN
Services Limited, one of the world's leading CRS providers. There his most
recent responsibility was for e-commerce projects and developing online travel
reservations systems. Robert is head of OTC's technical team that are
developing an integrated flight and hotel booking engine to allow bespoke
travel packages to be booked online.
Chief Executive of OTC, Mark Jones commented:
'We are delighted to have Robert on the main Board. What Robert and his team
have achieved in the last six months in technical terms is remarkable, but he
also brings a focused commercial edge. We expect to launch the first phase of
the new booking engine next month, and we believe it will be the first truly
integrated bespoke package travel option for the independent traveller.'
Kyril Saxe-Coburg is appointed as a non-executive director with immediate
effect. Mr Saxe-Coburg is currently a Principal of GLG Partners LP, a leading
independent Asset Management company. His responsibilities at GLG Partners
focus on investment opportunities in the Spanish and Portuguese equity
markets.
Prior to joining GLG Partners, Mr Saxe-Coburg spent 10 years at Lehman
Brothers Corporate Finance, specialising in Mergers & Acquisitions for South
European clients, including the merger of the Spanish sugar companies Ebro and
Azucarera valued at US$1.6 Billion and the sale of Domecq to Allied Lyons for
US$1 Billion.
Mr Saxe-Coburg holds a BA degree in Physics (cum laude) from Princeton
University and sits on the Advisory Council to the President of the Republic
of Bulgaria.
Chief Executive of OTC, Mark Jones commented:
'It is pleasure to welcome Kyril to OTC in a non-executive capacity. We look
forward to utilising his City experience and his knowledge of Eastern &
Southern Europe. We already have various projects under review in these
regions and Kyril's contacts and experience should help us develop and
capitalise on these projects.'
Neither Mr McDonald nor Mr Saxe-Coburg have any unspent convictions in
relation to indictable offences, have not been declared bankrupt nor made any
voluntary arrangements with creditors. Nor have either been a director of a
company, or a partner in any partnership which, during their time as a
director or partner, or, within 12 months following their resignation as a
director or partner, has gone into receivership, liquidation, administration,
or any composition or voluntary arrangement with its creditors. Neither have
been subject to any public criticisms by any statutory or regulatory bodies or
been disqualified by a court from acting as a director of a company or in the
management of affairs of any company.
For further information, please contact:
OTC
Tel: +44 (0)20 8255 4441
Mark Jones, Chief Executive Officer
Robert Falkner, Finance Director
Buchanan Communications
Tel: +44 (0)20 7466 5000
Nicola How / Isabel Petre
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