CWT announces new operating structure

MINNEAPOLIS, USA�-
EQS Newswire - 2 September 2020 – CWT,
the Business-to-Business-for-Employees (B2B4E) travel management platform,
today announces a new operating structure aimed to accelerate innovation,
transformation and growth. With immediate effect, Patrick Andersen is
appointed President, RoomIt & Commercial, Niklas Andréen is
appointed President, Traveler Experience & Customer, and Michelle
McKinney Frymire is appointed President, Strategy & Transformation,
Chief Financial Officer.

Patrick Andersen – President, RoomIt & Commercial

Niklas Andréen – President, Traveler Experience and Customer

Michelle McKinney Frymire – President, Strategy & Transformation, Chief Financial Officer

The three newly created
global operating units these leaders will oversee comprise:

• RoomIt &
  Commercial: Global Supplier Management,
  RoomIt, Marketing, Product, Partnerships, External Communications, and
  Solutions Group;
• Traveler
  Experience & Customer: Traveler
  Experience, Global Sales, and Customer Engagement, including oversight of all
  industry verticals;
• Strategy &
  Transformation: Finance, Technology, Talent &
  Performance, Enterprise Projects and Strategy.

Along with these
changes, Kelly Kuhn, an outstanding leader throughout her thirty-plus year
career at CWT who has delivered market share growth and strong performance as
Chief Customer Officer over the past four years, has decided to step back from
her operating role to assume the newly created role of Special Advisor, while
remaining on the Executive Leadership Team.

Lauren Aste, Chief
Legal Officer, Catherine Maguire-Vielle, Chief Human Resources Officer, John
Pelant, Chief Technology Officer, and Chris Vukelich, Strategic Advisor, remain
in their roles and on the Executive Leadership Team.

CWT
has taken a number of additional steps to weather the challenges of the
pandemic and position for the future. The company recently announced a
successful capital raise of $250M, backed by strong support from its
bondholders, lenders and shareholders. Given the need to re-align resourcing in
today’s market conditions but also to protect employees, operating costs have
been managed mainly through temporary furloughs and pay reductions, and more
recently also through voluntary programs offered by the company that have
received strong interest from employees globally.

Commenting
on developments, CWT President & CEO, Kurt Ekert, said: “As we
navigate and emerge from the impact of the global COVID-19 pandemic, we do so
from a secure financial base, with a talented and aligned team, and looking to
expand our industry leadership position. We have used the quieter lockdown
period to progress a number of innovations and initiatives, with a focus on
developing and delivering material value to our clients and their travelers. I
commend my CWT colleagues across the world for their customer-focus and
spirit.”

The issuer is solely
responsible for the content of this announcement.

About CWT

CWT is a
Business-to-Business-for-Employees (B2B4E) travel management platform.
Companies and governments rely on us to keep their people connected – anywhere,
anytime, anyhow – and, across six continents, we provide their employees with
innovative technology and an efficient, safe and secure travel experience.

CWT
Specialist Operations