UPDATE: Pegasus Solutions acquired Open Hospitality in October and the Pegasus board wanted the company to transform itself with more Open Hospitality DNA, says new CEO David Millili.
See more details here.
The original post follows:
Hotel distribution company Pegasus Solutions is changing ranks at the top, with the CEO, interim CFO and CIO exiting the company on Tuesday.
David Millili takes over for Mike Kistner in the CEO role, and replacements for interim CFO Rebecca Dernbach, a principal at Pegasus backer Prides Capital, and CIO Mark Peacock have not yet been announced.
Kistner, Derbach and Peacock all left their roles at Pegasus June 5.
Dernbach had been interim CFO since early April.
“We’ve heard that while the past team had made good progress, it wasnâ€™t fast enough or bold enough for the board,” says Tom Botts, managing partner at Hudson Crossing, the travel and hospitality strategic advisory firm. Â ”As such, it sounds like they decided that the only way to turn the ship was to start with an entirely clean slate.”
One insider says the wholesale changes signify a new direction for Pegasus, which offers CRS and distribution services with its switch to the hospitality industry globally.
Among the changes will be a new emphasis on web services, mobile and social media for hotel clients, and a can-do, fleet-of-foot attitude in getting things done, the insider says.
And, clearly, the bottom line had to be suffering as the board looks to turn things around.
Millili, who has been chief web officer at Pegasus since late 2011 and early in his career served as a hotel general manager, replaces Kistner as CEO.
Kistner, a former Best WesternÂ chief information officer, headed privately held Pegasus since March 2008.
The CEO change — with no hint of the more widespread changes — was announced today at a HEDNA conference in Madrid.