Amex GBT Restructuring to Two Global Segments: Multinational, SME

January 26, 2023

American Express Global Business Travel is restructuring to a "global, segment-driven model," with operations divided between segments focusing on global and multinational customers and on small and medium-sized enterprises, a spokesperson for the travel management company said.

David Reimer, who has been Amex GBT's general manager for the Americas as well as EVP of global clients, now is leading the TMC's global and multinational segment around the world as EVP of global and multinational, VP of public affairs Martin Ferguson told BTN. Jason Geall, who in 2021 became the leader of Amex GBT's operations in Europe, the Middle East and Africa, is leading the global SME segment.

The move will "accelerate growth" and "drive consistency," Ferguson said. "We are in a $1.4 trillion global industry and have a significant opportunity to grow our business and deliver unrivalled value to customers."

Amex GBT announced the organizational changes internally on Tuesday and estimates it will incur pre-tax restructuring charges this year, in the range of $20 million to $25 million according to a filing with the U.S. Securities and Exchange Commission. The filing also reported an amendment to its credit agreement providing for $135 million in loans, which Amex GBT plans to use for "general corporate purposes including continued Egencia integration, accelerating growth in SME [via the restructuring] and to drive efficiencies," according to the filing.

Source link

Score LA is a website dedicated to the sprawling California city in the south, which happens to be the heart of the United State's movie and TV industry. Near the iconic Hollywood sign stands the studios Paramount Pictures, Universal, and Warner Brothers, along with others that also give behind-the-scenes tours.
Additional Information
Copyright © 2023 Score LA. All Rights Reserved.
DMCA.com Protection Status