Topaz Owner Sells Firm To Entrepreneur

<I>Portland, Ore.</I> - Jeanie Thompson-Smith, founder of Topaz Enterprises Inc. and one of travel managers' earliest proponents, sold the auditing firm last month to entrepreneur William Reesman, who took over as CEO.

Valerie Estep remains as president of the Portland-based company, and no other staffing changes are expected. Thompson-Smith will remain with the company in an advisory role for five years, focusing on strategy, the annual conference and publications. She founded Topaz in 1978.

In addition to acquiring the 35-employee business, which reviews $1 billion in air segments each year for more than 500 corporations, Reesman is making a substantial investment in upgrading hardware, software and technology, including a Website and business on the Internet. In addition, the company is reviewing all existing products and surveying customers about new offerings, Reesman said.

"With the rapid growth, the prospect of multiplying our size due to expanded global audit capabilities and opportunities to use technology, it takes some new energy to take over the lead here," Thompson-Smith said. At 61, with a heart condition, she said she is interested in "preserving my life" and slowing down a bit.

Reesman has a wealth of business experience, starting with United and Northwest airlines, as president of Insurance Brokers Ltd. and the founder and CEO of the National Consumer Credit Guarantee Association, which he built to $15 million in annual revenues.