Foliot Leaves Galileo To Be FlightTime CEO

<B>Foliot Leaves Galileo To Be FlightTime CEO</B>

Just as Rosemont, Ill.-based Galileo International began looking to be taken over by an owner that will see more value in the company than the public has, senior vice president of vendor marketing and corporate sales Michael Foliot split for a dot-com. Well, sort of a dot-com.

Foliot on Oct. 25 was named the new CEO for Waltham, Mass.-based air charter broker FlightTime.com, a 15-year-old company that added the "dot-com" to its name back in February when it bought an aviation software firm to bolster its aircharter.com site, which was rebranded as flighttime.com.

FlightTime.com is the company that is helping Proctor and Gamble with its Airbus 320 shuttle for travel between its Cincinnati headquarters and Brussels (BTN, April 3). Foliot last week told BTN that his decision to leave Galileo had nothing to do with the changes happening there. "It's strictly based on the opportunity to be a CEO," he said, noting that he is still on "extremely good terms" with Galileo chairman, president and CEO James Barlett. "There were no bridges burned and we will remain friends. This is something Jim knows I've always wanted to do."

Foliot's seven-year tenure at Galileo overlapped almost entirely with that of Barlett, who now is attempting to lead Galileo into a leveraged buyout or sale (BTN, Oct. 30). The company is under pressure from analysts and investors, who believe Sabre has a superior strategy and position on the Internet. Galileo has made no bones about the negative impact that Web-based bookings have made on its traditional business. Galileo's products for the corporate arena, of which Foliot was given charge in October 1998, severely lag Sabre's Business Travel Solutions in customer adoption. With Sabre's acquisition of GetThere, Galileo's revamped Corporate Travelpoint product--due out next quarter--faces a substantial competitive challenge.

Foliot, who spent 14 years with American Express Travel Services earlier in his career, last spring hired ex-Hertz executive John Hach as Galileo's vice president of corporate and consumer sales (BTN, March 22, 1999). A Galileo spokesman said Steve Diffley would handle Foliot's vendor marketing duties on at least an interim basis. "Our senior team is discussing its options," the spokesman said.

FlightTime co-founder and former CEO Jane McBride, who will remain chairwoman and "chief visionary," in a press statement said she chose Foliot for his "impeccable" skills, expertise and "financial acumen." The statement also noted that Foliot "was an active participant in Galileo's IPO in July 1997." Foliot said FlightTime.com is eyeing an IPO, but it will come no sooner than the fourth quarter of 2001.