B2B provider of technology solutions for the travel industry CarTrawler today (Tuesday 4 October) announced that Peter O'Donovan has been appointed as its chief executive, succeeding Cormac Barry, who is leaving the business for personal reasons.
O'Donovan's Background
O'Donovan has been on the CarTrawler leadership team for six years, most recently as chief operations officer, a position he held for the last four years. Prior to CarTrawler, he worked for 14 years in various online roles at Paddy Power (now Flutter plc), including as manager director of online and chief product officer.
Statements
Speaking about the appointment, CarTrawler chairman Patrick Kennedy said, "The board, including Cormac, has had a long-term focus on succession planning. We feel fortunate to have such a natural successor. Peter is an exceptional leader, who has deep knowledge of the travel sector and e-commerce, making him the ideal person to lead CarTrawler at a very exciting time for the business. We would like to thank Cormac for his commitment and leadership and wish him the very best for the future."
O'Donovan said, "I am honoured and excited to be appointed as the chief executive of CarTrawler. Due to its industry-leading technology, revenue management and e-commerce capabilities, CarTrawler is ideally positioned to continue to take advantage of the recovery in travel. I worked closely with Cormac and Patrick and now look forward to leading our talented people in offering great commercial opportunities to our travel partners."
Barry said, "After spending the last 12 years in CEO roles at CarTrawler and previously in Australia, I want to take a break to recharge the batteries. CarTrawler has emerged from the pandemic in excellent shape and is now entering the next phase of its development, so this felt like the right time for me to step down and hand the reins over to a proven leader, who is well known by the business and our partners. It has been a privilege to work with the CarTrawler team, our travel partners and our car rental suppliers. I remain a committed investor in CarTrawler and will be available to support the business over the coming months."
Trading Update
CarTrawler's financial performance remains strong as it benefits from the post-Covid growth in demand for travel, continued investment in its proposition, and new partner wins. Revenue in the year-ending 30 September 2022 is forecast to be 100% higher than FY21, with profitability close to pre-COVID levels and further growth anticipated in FY23.
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