Evan Konwiser
About Evan Konwiser
Evan Konwiser, 43, is GBTG’s Chief Product & Strategy Officer (since December 2024) after serving as Chief Marketing & Strategy Officer (September 2022) and EVP, Product, Strategy & Communications (since May 2022; EVP role established in February 2020 at Legacy GBTG). He previously co‑founded travel technology ventures and consulted across airlines, TMCs, GDSs, and travel media. He holds a BA and MBA from Dartmouth. Company performance during his recent tenure: FY2024 revenue $2.42B (+6% YoY), Adjusted EBITDA $478M (+26%), margin 20%, and FCF $165M (+235%); cumulative TSR since listing equivalent to $111 for a $100 investment, while peers were $155 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| GBTG / Amex GBT | Chief Product & Strategy Officer | Dec 2024–present | Leads product and strategy; builds AI-enabled marketplace capabilities and growth initiatives . |
| GBTG / Amex GBT | Chief Marketing & Strategy Officer | Sep 2022–Dec 2024 | Enterprise strategy/marketing; supported NDC partnerships and client retention . |
| Legacy GBTG | EVP, Product, Strategy & Communications | Feb 2020–May 2022 (EVP); leadership since 2014 | Scaled product/strategy; advisor to travel startups; recognized industry leader . |
| Skylark (startup) | Co‑founder & COO | — | Built luxury leisure travel platform and operations . |
| FlightCaster (startup) | Co‑founder | Acquired 2010 | Real‑time flight delay prediction; exit via acquisition . |
| Farely (startup) | Builder | — | Airline cost analytics product for travel buyers . |
| Next Jump | Travel business lead | post‑FlightCaster | Ran corporate travel discount programs post acquisition . |
| Bain & Company | Consultant | — | Strategy projects across travel ecosystem . |
| Kayak | Product/operating role | — | Travel tech operating experience . |
External Roles
| Organization | Role | Years | Notes / Impact |
|---|---|---|---|
| Association of Corporate Travel Executives | Board member | — | Governance and industry standards . |
| Phocuswright | 6× “Dragon”/Critic; Young Leaders Summit facilitator | — | Innovation judging and talent development . |
| Advisor (Safely, Suiteness, Olset, RocketMiles, GetGoing) | Advisor | — | Early‑stage product and go‑to‑market guidance; several exits (Olset, RocketMiles, GetGoing) . |
| Industry recognition | 25 Most Influential Business Travel Executives | 2016 | Industry impact acknowledgment . |
Fixed Compensation
- Not disclosed for Mr. Konwiser in the latest proxy. Company program elements for executives: annual base salary, annual incentive tied to financial/customer/colleague goals, and long‑term equity (primarily RSUs) .
Performance Compensation
- Company AIA (Annual Incentive Award) design (applies to executive incentives reviewed by the Compensation Committee): 70% financial (Adjusted EBITDA, Cash from Operations less Capex), 15% customer (NPS, Net Win‑Loss, Sustainability), 15% colleague (Engagement, Inclusion, High‑Performing Talent Attrition). FY2024 achievement was 133% overall based on targets/results below .
| Metric | Weighting | Target | 2024 Actual | Payout Basis | Vesting/Timing |
|---|---|---|---|---|---|
| Adjusted EBITDA | 45% | $450M | $478M | Above target | Annual cash bonus based on plan; paid following year . |
| Cash from Operations less Capex | 25% | $120M | $165M | Above target | Annual cash bonus . |
| Client NPS | 5% | Program max level | Exceeded maximum | Above target | Annual cash bonus . |
| Net Win‑Loss Volume | 5% | Positive net wins | Exceeded target | Above target | Annual cash bonus . |
| Sustainability (EcoVadis/SAF) | 5% | Sustain Platinum/SAF | Exceeded target; 750k gal SAF; emissions pricing launched | Above target | Annual cash bonus . |
| Employee Engagement | 5% | Best‑in‑class | Exceeded objective | Above target | Annual cash bonus . |
| Inclusion | 5% | Best‑in‑class standard | +7pts above standard | Above maximum | Annual cash bonus . |
| High‑Performing Talent Attrition | 5% | Low attrition | Exceeded maximum | Above maximum | Annual cash bonus . |
- Equity incentives: In 2024, executives received RSUs with one‑third vesting annually over three years; performance‑based stock awards are planned to start in 2025 to further align pay with long‑term performance .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 790,399 Class A shares following 8/12/2025 tax withholding event (406 shares withheld at $7.71 on RSU vesting) . |
| Ownership as % of shares outstanding | ~0.165% (790,399 owned ÷ 478,702,748 Class A shares outstanding on 4/15/2025) . |
| Recent insider transactions | 8/12/2025: RSU tax withholding of 406 shares; post‑transaction ownership 790,399 . 3/6/2025: Award reported; aggregator shows 117,957 share award; confirm via Form 4 filings index and third‑party tracker . |
| Stock ownership guidelines | Executive officers must hold stock equal to 3× base salary; 5‑year compliance window; 50% net‑share retention until met . |
| Hedging/pledging | Prohibited for all officers/directors; no margin accounts or pledging collateral (alignment safeguard) . |
| RSU vesting cadence (company practice) | Typical RSU grants vest one‑third annually (e.g., March 1 tranches); settlement within 30 days of vest; special acceleration rules upon double‑trigger change‑in‑control for NEOs . |
Employment Terms
| Term | Detail |
|---|---|
| Current role start | Chief Product & Strategy Officer since December 2024 . |
| Prior GBTG roles | CMSO (Sep 2022), EVP Product/Strategy/Comms (May 2022; EVP function since Feb 2020), leadership at Legacy GBTG since 2014 . |
| Contract/severance specifics | Not disclosed for Mr. Konwiser; company severance and equity treatment are disclosed for NEOs (e.g., 12 months salary; target bonus; pro‑rata bonus; RSUs continue vest during severance or fully accelerate under double‑trigger) . |
| Clawbacks | Dodd‑Frank compliant mandatory recoupment on restatements; discretionary clawback for misconduct/reputational harm (covers executives) . |
| Insider trading policy | Company policy filed with 10‑K; compliance required by officers/directors . |
Performance & Track Record
- FY2024 delivered record Adjusted EBITDA and revenue; EBITDA margin expanded 310 bps to 20% on 6% revenue growth and 2% adjusted opex growth, consistent with product and efficiency focus .
- Commercial momentum: $2.8B total new wins ($2.2B SME), record retention (99% Global/Multinational; 97% overall), AI LLM chat in 18+ countries, integrated emissions‑based carbon pricing, ~1M NDC tickets processed; ongoing NDC capability launches .
- Balance sheet/capital allocation: FCF $165M, leverage 1.8×, $60M run‑rate net interest savings; $300M buyback authorized; 8M shares repurchased .
- Pay‑versus‑performance context: FY2024 net loss of $134M with Adjusted EBITDA $478M; cumulative TSR since listing below peer TSR (Company $111 vs Peer $155 on $100 base) .
Compensation Committee & Governance
- Independent compensation consultant (Semler Brossy); no conflicts and reports directly to the Committee .
- Peer group for benchmarking includes software/services, leisure, and B2B firms (e.g., Paychex, Sabre, Tripadvisor, WEX, Twilio), reviewed annually; Black Knight removed post acquisition .
- Program governance: no option repricing/exchanges without shareholder approval; no excise tax gross‑ups; double‑trigger vesting on change‑in‑control; minimum 1‑year vesting; robust stock ownership guidelines; Dodd‑Frank and discretionary clawbacks .
- Say‑on‑pay support: >99% approval in 2024 .
Risk Indicators & Red Flags
- Hedging/pledging of company stock prohibited; alignment preserved (reduces counterparty/leverage risk) .
- No single‑trigger vesting; equity accelerates under double‑trigger only (disciplined change‑in‑control economics) .
- Option repricing prohibited without shareholder approval (mitigates pay inflation risk) .
- Clawbacks in place covering financial restatements and misconduct (recourse on adverse events) .
Investment Implications
- Incentives are tied to Adjusted EBITDA and cash generation, with strong 2024 over‑achievement; this supports continued margin expansion focus in product/strategy under Konwiser’s remit .
- Equity alignment looks meaningful: ~790k shares owned (~0.165% of Class A), with only tax‑related withholdings disclosed; pledging/hedging barred—reduces forced‑sale pressure and misalignment risk .
- Governance quality (independent consultant, strong policies, high say‑on‑pay support) lowers compensation‑related headline risk and supports retention; however, individual employment/severance specifics for Konwiser are not disclosed—monitor Form 8‑K/DEF14A updates for changes .
- Execution upside is evident in NDC, AI, and sustainability productization; TSR lagging peers suggests operational gains may not be fully reflected in equity yet—catalysts include sustained FCF growth and buyback deployment .