announced today the appointment of Ralph M. Bahna to the position of Non-Executive Chairman of its Board of Directors. Mr. Bahna succeeds Richard S. Braddock, who is resigning from the board, effective today.
Mr. Braddock joined priceline.com as Chairman and Chief Executive Officer in 1998 and led the Company through its early product launches, initial public offering and development of its travel business. “Priceline.com’s Board of Directors appreciates Rick’s service since the early days building the priceline.com brand and the company’s position as a premier online travel service,” said Mr. Bahna. “We wish him well in his future endeavors.”
Priceline.com’s new Chairman, Mr. Bahna, has served as a Company director since 1998, the year the travel service first launched. Mr. Bahna was an innovative leader in the cruise industry, serving for many years as Chief Executive Officer of Cunard Line, Ltd., and was a senior marketing executive with Trans World Airlines, Inc. He is the founder and current President of Masterworks Development Corp., which has developed an international chain of specialized business hotels.
“Ralph Bahna’s broad travel experience and history with priceline.com make him an exceptional choice for the Chairman’s role,” said Jeffery H. Boyd, priceline.com’s President and Chief Executive Officer.
In conjunction with his election to Non-Executive Chairman, Mr. Bahna has asked the Nominating Committee of priceline.com’s Board of Directors to perform an evaluation of the role of Chairman and to develop, over time, recommendations for identifying a successor to Mr. Bahna.