BTN Exclusive: BCD Holdings CEO To Take BCD Travel Helm

BCD Holdings today announced that CEO Joop Drechsel will assume the title and responsibilities of CEO of BCD Travel on Jan. 1, 2008. Current CEO Mike Buckman then will become president of BCD Travel in Asia/Pacific. At the same time, Drechsel said John Snyder, current president and COO of the Americas, will become president and global COO of BCD Travel.

Drechsel said the melding of CEO duties is a long-term strategy and enables the streamlining of operations, because BCD Travel will not have to seek BCD Holdings approval for executive decisions. "If you replace me up there with someone else, you will go back to the old structure for BCD Travel. That wouldn't be our intention," Drechsel told Business Travel News in an exclusive interview. "My vision for BCD Holdings will be very close to the vision for BCD Travel."

Buckman, who has been CEO since October 2001, will be based in BCD's Singapore office. Drechsel described the transition as a "move that was planned for quite some time because we knew that he was going to step down as CEO of BCD Travel by the end of this year."

"We are all very pleased with what Mike has done with the company and where he has brought the company so far, but indeed Mike had his own ideas, which is important," said Drechsel. "Mike wanted to do something else and this was the logical step for us to take. It is a very strong sign on how serious we take the opportunities in Asia for our customers."

Drechsel said he personally decided to promote Snyder to the global post based on Snyder's success in integrating acquisitions in the past 18 months and leading operations in the Americas. Snyder will remain head of the Americas until a replacement is named in the coming year.

Having Drechsel take the lead role for BCD Travel shows the importance of the company within BCD Holdings and indicates the potential the company sees there for strong growth. "It is by far our biggest business. It allows me to concentrate a large part of my time on this huge business and the big objectives we have for that business," Drechsel said.

Drechsel, who has been an active participant in acquisition activity within BCD Holdings since 2002 and became its CEO in 2003, said the changes come as a result of BCD Travel's growth into the largest operating company in the BCD Holdings portfolio, developing the infrastructure and presence in the Asia/Pacific region, and driving efficiencies and streamlining operations within the organization to focus on business travel.

Immediate priorities, according to Drechsel, are growing the client base by developing new client relationships and strengthening existing ones. To enable that growth, Drechsel plans to continue to invest in technology, expand the travel management network, and properly execute within the existing network, as well as grow by acquisition.

Another focus is developing further synergy among operating companies, which include TRX and Park 'N Fly, by focusing on business travel.