CARLSON COMPANIES AND ACCOR GROUP FINALIZE MERGER OF CARLSON WAGONLIT TRAVEL.NEW YORK--(BUSINESS WIRE)--Jan. 30, 1997--In a ceremony on international ground at the United Nations in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Carlson Companies Carlson Companies (sometimes referred to as Carlson) is a privately held international corporation in the marketing, service, travel, and hospitality industries. Headquartered in Minneapolis, Minnesota, in the United States, as of 2005 Carlson Companies owned 5,300 travel , Inc. of Minneapolis and the Accor Group of Paris today celebrated the finalization Writing the table of contents (TOC) on a recordable CD or DVD disc. The finalization process ensures that the disc can be played back on most CD and DVD players. See disc-at-once. of the global merger of the business travel interests of Carlson and Accor under the new company, Carlson Wagonlit Carlson Travel Network Carlson Travel Network can trace its origin back to a travel agency that was founded by Ward Forster in the United States in 1888 and named Ask Mr. Foster. Travel. The merged company, which will be the first true global travel services company with international management, will have total sales of nearly $9 billion. Total systemwide sales under the Carlson Wagonlit Travel brand (including franchisees and international partners) are $13.3 billion with more than 4,100 locations in more than 135 countries. The merger takes place less than three years since the two travel and hospitality giants first announced a union and intent to merge in March 1994. At that time, the companies said they planned to finalize fi·nal·ize tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es To put into final form; complete or conclude: "They have jointly agreed ... the full and complete merger within five years. In attendance at a ceremony in New York were Curt Carlson Curtis "Curt" Carlson (July 9, 1914 - February 19, 1999) was a U.S. businessman and founder of the Carlson Companies. He founded the Radisson Hotels chain which originated in Minneapolis, Minnesota where Carlson was born. , founder and chairman of Carlson Companies, and Gerard Pelisson, co-founder and co-chairman, Accor Group Supervisory Board Supervisory board The board of directors that represents stakeholders in the governance of the corporation. . The newly created, unified Carlson Wagonlit Travel company will be equally owned by Carlson Companies and the Accor Group. In the merger, Carlson and Accor will consolidate all of their respective worldwide business travel-related operations in a new Netherlands New Netherland, territory included in a commercial grant by the government of Holland to the Dutch West India Company in 1621. Colonists were settled along the Hudson River region; in 1624 the first permanent settlement was established at Fort Orange (now Albany, N.Y. BV company, which will be 50 percent owned by each party. Carlson said the merger was finalized See finalization. ahead of schedule because the needs of Carlson Wagonlit's clients and partners accelerated the timetable. "Our clients demanded that the merger happen, the industry required it, and to be honest, we found we genuinely liked each other," said Carlson. "The response to our union three years ago was extremely positive, not only on the part of our clients, but among our employees. It wasn't long before we knew we had chosen the right course of action and that finalizing the merger would happen more quickly than the five-year goal we had set," added Pelisson. Since 1994, Carlson Wagonlit Travel had a geographical ownership structure which operated under co-presidents. Under this structure, the parent companies owned and operated distinct regions of the world and co-managed a joint venture partnership for expansion efforts. The new merged structure creates a single unified ownership structure co-owned by the parent companies and reporting to a single president worldwide. In addition, a board of directors, comprised of representatives from each of the parent companies will govern the new company. Marilyn Nelson, vice chairman, Carlson Companies, Inc. and Jean-Marc Simon, president, Compagnie des Wagons lits, Accor Group, will function as co-chairmen of the board of directors. Other members include Martyn Redgrave, executive vice president/CFO, Carlson Companies, Inc. and Carlson Wagonlit Travel; John Norlander, former CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Carlson Hospitality Worldwide; Jean-Marc Espalioux, president and CEO, Accor Group Executive Board; and Sven Boinet, member of the Management Board, Accor Group. Serving as Chairman Emeritus e·mer·i·tus adj. Retired but retaining an honorary title corresponding to that held immediately before retirement: a professor emeritus. n. pl. will be Curt Carlson and Gerard Pelisson. For business clients the merged company means a single global management structure, a single technology structure to enhance service, and more purchasing power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. worldwide. Travis Tanner The code name for the Xeon version of the Pentium III chip. See Xeon. was named worldwide president and chief executive officer, and chairman of the Operating Committee, of the merged company. He will be based in executive offices in Miami, Florida “Miami” redirects here. For the Native American tribe, see Miami tribe. Miami is a major city in southeastern Florida, in the United States. It is the county seat of Miami-Dade County. Miami is a gamma world city with an estimated population of 404,048. . Reporting to Tanner will be: Herve Gourio, vice chairman of the Operating Committee and president, Europe, Middle East, and Africa; Geoffrey Marshall, president, Asia-Pacific; and Doug Ziemer, president-Americas. The company's administrative offices will be based in Amsterdam, the Netherlands. Regional headquarters will be in Minneapolis (for the Americas), Paris (for Europe, Middle East and Africa), and London (for Asia-Pacific). "We have created the world's first truly international travel management company. Though we will have executive offices in Miami, it will be operated by regional presidents, close to the customer in a manner that respects the varying needs of those customers, while maintaining world-class standards and technology through the system," noted Tanner. Joining Tanner at the executive offices in Miami will be an international team which includes: Olivier de Surville, chief financial officer; Dick Smith, chief technology officer; and Liliana Frigerio, senior vice president, Sales - Marketing Worldwide. Since the Carlson Wagonlit Travel union was first announced in 1994, the company experienced a string of new business wins and greatly expanded its presence in the Asia-Pacific region. The Asia-Pacific region has been the main focus of Carlson Wagonlit's expansion plans. In 1995, it acquired Dodwell Travel of Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Dodwell Travel of Japan, and formed a partnership with Ansett Australia's travel agency, Traveland. Its expansion continued in 1996 when Carlson Wagonlit acquired Jetset Travel Pte Ltd PTE LTD Private Limited of Singapore. Meanwhile, Carlson Wagonlit also expanded its operation in other parts of the world. In 1994, it acquired the German travel agency Brune Reiseburo, based in Dusseldorf, and also opened a branch office in Moscow. In 1996, Carlson Wagonlit acquired Stockholm-based ReseCenter. The merger applies only to the business travel operations of the parent companies. Separately owned leisure and incentive travel companies, which may or may not use the Carlson Wagonlit brand (such as Carlson Companies' wholly-owned U.S. franchise and leisure travel company), will continue to operate independently of the merged company. The merger does not link other enterprises of Carlson Companies and Accor. The hotel, restaurant and related hospitality enterprises of the two companies will continue to operate as separate entities in the marketplace. Formal closing of the merger is subject to government regulatory approvals, anticipated to be received within 90-120 days. CONTACT: Doug Cody, (800)501-3568 (612)449-2488 Barbara Hemberger, (800) SKYPAGE PIN No.3038918 (612)449-2267 |
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