DOW JONES NEWSWIRES
Orbitz Worldwide Inc. (OWW) named the former financial chief of Crocs Inc. (CROX) to the same position at the online-travel company.
Russ Hammer, who led the restructuring efforts at shoe maker Crocs, also held a variety of senior executive positions at Motorola Inc. (MOT). He replaces Marsha Williams, whose retirement was announced in June.
Orbitz Worldwide said in November its third-quarter earnings more than doubled, thanks to strong summer travel demand and lower overhead costs. The travel industry has continued to rebound from last year's weak demand, with a number of airlines and hotel companies posting stronger profits in recent quarters.
Orbitz has long generated most of its revenue from airline and domestic bookings, though it has made a push to expand internationally and into hotel bookings.
Both Orbitz and Crox were inactive premarket. They closed Friday at $5.59 and $17.12, respectively. Orbitz fell 24% in 2010, while Crox nearly tripled.
-By Lauren Pollock, Dow Jones Newswires; 212-416-2356; firstname.lastname@example.org