Steve Barnhart
Encyclopedia
Steve Barnhart was president of Orbitz Worldwide
(NYSE:OWW), from September 2006 to January 2009. With 20 years experience in finance and consumer brands, Barnhart led the Orbitz Worldwide global portfolio of online travel brands, including Orbitz
, CheapTickets
and the Away Network in the Americas, ebookers
in Europe, and HotelClub.com and RatesToGo.com in Asia Pacific.
As CEO, Barnhart launched initiatives to integrate Orbitz Worldwide’s technology platforms, provide new services for “unmanaged” travelers and reach out to eco-tourists and other environmentally focused travelers. He also largely directed the partial spin-off of Orbitz Worldwide in an initial public offering
on July 20, 2007, which Orbitz's then-parent company, Travelport, announced in March 2007.
Barnhart joined Orbitz in May 2003 and was a member of the team that took the original Orbitz, Inc. public in December 2003. Following Cendant Corporation’s acquisition of Orbitz in 2004, he led the finance integration with Cendant’s other online travel brands as chief financial officer of the consumer travel unit within Cendant Travel Distribution Services. He was named President and CFO of Orbitz Worldwide in September 2006, shortly following Travelport’s acquisition by The Blackstone Group in a private equity
transaction. He was promoted to CEO and President of the business unit in April 2007, and served as a Director after the IPO. He resigned from hisrole as CEO and President, and stepped down from the Board of Directors, in January 2009, although he remained as an adviser through April.
Barnhart earned both a bachelor’s degree in economics and a master’s of business administration in finance from the University of Chicago
. of is a board member for the Illinois Technology Association, a member of the Visiting Committee for the College of the University of Chicago, and a member of the Mayor's Council of Technology Advisors.
and its Pepsi-Cola and Frito-Lay
subsidiaries and affiliated companies. In his final role, he was director of finance for a division of the Pepsi Bottling Group with over $1 billion in revenue and 5,000 employees.
Prior to PepsiCo, Barnhart was an economic analyst in New Jersey for the Brussels-based Polyurethanes division of ICI
, and worked in commercial lending for The American National Bank of Chicago.
Orbitz
Orbitz Worldwide, Inc. is an Internet travel company headquartered in the Citigroup Center in Near West Side, Chicago, Illinois. Through its primary web site Orbitz.com, Orbitz Worldwide enables travelers to research, plan and book a broad range of travel products, facilitating 1.5 million flight...
(NYSE:OWW), from September 2006 to January 2009. With 20 years experience in finance and consumer brands, Barnhart led the Orbitz Worldwide global portfolio of online travel brands, including Orbitz
Orbitz
Orbitz Worldwide, Inc. is an Internet travel company headquartered in the Citigroup Center in Near West Side, Chicago, Illinois. Through its primary web site Orbitz.com, Orbitz Worldwide enables travelers to research, plan and book a broad range of travel products, facilitating 1.5 million flight...
, CheapTickets
CheapTickets
CheapTickets is an online travel services company focusing on the leisure market, offering airline tickets, hotel and Vacation rentals, rental cars, customized vacation packages, and cruises...
and the Away Network in the Americas, ebookers
Ebookers
Ebookers.com is an online travel company based out of the UK and is a wholly owned subsidiary of Travelport, the former travel arm of Cendant which was bought in October 2006 by an affiliate of Blackstone Partners. Travelport split out itself into three companies...
in Europe, and HotelClub.com and RatesToGo.com in Asia Pacific.
As CEO, Barnhart launched initiatives to integrate Orbitz Worldwide’s technology platforms, provide new services for “unmanaged” travelers and reach out to eco-tourists and other environmentally focused travelers. He also largely directed the partial spin-off of Orbitz Worldwide in an initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
on July 20, 2007, which Orbitz's then-parent company, Travelport, announced in March 2007.
Barnhart joined Orbitz in May 2003 and was a member of the team that took the original Orbitz, Inc. public in December 2003. Following Cendant Corporation’s acquisition of Orbitz in 2004, he led the finance integration with Cendant’s other online travel brands as chief financial officer of the consumer travel unit within Cendant Travel Distribution Services. He was named President and CFO of Orbitz Worldwide in September 2006, shortly following Travelport’s acquisition by The Blackstone Group in a private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
transaction. He was promoted to CEO and President of the business unit in April 2007, and served as a Director after the IPO. He resigned from hisrole as CEO and President, and stepped down from the Board of Directors, in January 2009, although he remained as an adviser through April.
Barnhart earned both a bachelor’s degree in economics and a master’s of business administration in finance from the University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
. of is a board member for the Illinois Technology Association, a member of the Visiting Committee for the College of the University of Chicago, and a member of the Mayor's Council of Technology Advisors.
Professional History
Prior to joining Orbitz, Barnhart held various finance positions over a 13-year period with PepsiCoPepsiCo
PepsiCo Inc. is an American multinational corporation headquartered in Purchase, New York, United States, with interests in the manufacturing, marketing and distribution of grain-based snack foods, beverages, and other products. PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company...
and its Pepsi-Cola and Frito-Lay
Frito-Lay
Frito-Lay North America is the division of PepsiCo that manufactures, markets and sells corn chips, potato chips and other snack foods. The primary snack food brands produced under the Frito-Lay name include Fritos corn chips, Cheetos cheese-flavored snacks, Doritos and Tostitos tortilla chips,...
subsidiaries and affiliated companies. In his final role, he was director of finance for a division of the Pepsi Bottling Group with over $1 billion in revenue and 5,000 employees.
Prior to PepsiCo, Barnhart was an economic analyst in New Jersey for the Brussels-based Polyurethanes division of ICI
Imperial Chemical Industries
Imperial Chemical Industries was a British chemical company, taken over by AkzoNobel, a Dutch conglomerate, one of the largest chemical producers in the world. In its heyday, ICI was the largest manufacturing company in the British Empire, and commonly regarded as a "bellwether of the British...
, and worked in commercial lending for The American National Bank of Chicago.