Orbitz CFO to Retire
Orbitz Worldwide (NYSE: OWW) on Tuesday announced the planned retirement of its chief financial officer.
Marsha Williams, who served the company since 2007, will retire at the end of the year and will assist in searching for her replacement. During her tenure, Williams assisted in taking the company public. The travel booking company operates the Websites Orbitz.com and CheapTickets.com, among others.
"We are grateful to Marsha for all of her contributions to Orbitz Worldwide, including her roles in the company's IPO and the stabilization of our business through last year's challenging economic period," said Barney Harford, president and CEO of Orbitz Worldwide.
"Under Marsha's leadership, Orbitz Worldwide successfully established its own stand-alone public company finance function as we separated from our former parent company, Travelport," Hardford added. "Over the past 18 months, Marsha successfully led our efforts to drive nearly $45 million in operating and capital costs out of the business. Most recently, she played a pivotal role in our debt-for-equity swap and Travelport's additional equity investment, both of which have significantly improved the capital structure of our business. Everyone at the company thanks her and wishes her well."
Williams's career spans four decades in finance in various industries such as retail, real estate, banking, and energy, according to biographical information on Orbtiz Worldwide's site. She previously worked for Crate and Barrel and Amoco.