Orbitz Announces New CEO, More Cost-Cutting

CHICAGO (STNG) ― Chicago-based online travel business Orbitz on Wednesday announced the appointment of 36-year-old Barney Harford as the company's president and CEO.

Harford will succeed Steve Barnhart, who, according to a release from Orbitz, resigned to pursue other interests. Barnhart will remain with the company through early April in an advisory role.

Orbitz also announced it will take further measures to lower operating costs. In combination with expense and workforce reductions announced in November 2008, these latest measures are designed, the company says, "to position Orbitz Worldwide for success in the face of the challenging economic prospects for the global travel industry."

Over the next several weeks, Orbitz says it will implement measures designed to lower its cost structure by an additional $20 million to $25 million annually, in addition to the $20 million cost reductions announced in November. The release did not detail how the company will make these cuts.

Harford currently serves on the board of directors of LiquidPlanner, an on-demand project management service that helps companies manage uncertainty, and GlobalEnglish, a leading provider of online English language training services to multinational corporations.

(Source: Sun-Times News Group Wire © Chicago Sun-Times 2009. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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