Orbitz Worldwide, Inc. (NYSE:OWW) today announced the appointment of Richard P. Fox to its board of directors.
Mr. Fox was appointed to fill the vacancy on the board created by the resignation of David Weiss, and will serve for the term expiring at the 2008 Annual Meeting of Shareholders. The board has nominated Mr. Fox for election at the 2008 Annual Meeting. If re-elected by the company's shareholders at the 2008 Annual Meeting, Mr. Fox would serve for the three-year term expiring at the 2011 Annual Meeting. Mr. Fox is also expected to be appointed by the board to serve as the Chairman of the Audit Committee and a member of the Compensation Committee.
"We want our shareholders to benefit from the most talented directors available. Rick Fox exemplifies the qualities and experiences that define successful corporate leaders," said Jeff Clarke, chairman, Orbitz Worldwide. "I am confident that Rick will be a great asset to the management team at Orbitz as the company works to deliver future growth."
Mr. Fox has served as a consultant and outside board member since 2001 to entrepreneurs and businesses within the financial services industry. He was President and Chief Operating Officer of CyberSafe Corporation from 2000 to 2001, responsible for the overall financial services and operations of the company. Prior to joining CyberSafe, he was Chief Financial Officer and a member of the board of directors of Wall Data, Incorporated. Additionally, he spent 28 years at Ernst & Young LLP, last serving as Managing Partner of its Seattle office.
Mr. Fox also serves on the board of directors of PREMERA, a Blue Cross managed-care provider, Univar Inc., an international chemical distribution company, and Flow International (NASDAQ:FLOW) , a machine tool manufacturer. He also serves on the boards of several private equity financed technology companies.
"The online travel space is an exciting vertical within e-commerce with tremendous growth potential on a global scale," said Rick Fox, director, Orbitz Worldwide. "I look forward to my relationship with this management team, led by Steve Barnhart, as we work to continue the growth of Orbitz Worldwide's portfolio of brands."
"Rick will bring valued expertise to our board of directors, and our management team will benefit from his leadership," said Steve Barnhart, CEO and president, Orbitz Worldwide. "I look forward to his counsel as we continue to expand the limits of what we accomplish within this organization."
In addition to his corporate service, Mr. Fox is a member of the Board of Trustees of the Seattle Foundation and is on the Board of Visitors of the Fuqua School of Business at Duke University. He received a Bachelor of Arts degree in Business Administration from Ohio University and an M.B.A. from the Fuqua School of Business at Duke University. He is a Certified Public Accountant.
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