Expedia CEO and CFO Quit in Clash with Barry Diller and the Board
Expedia Group Inc.’s CEO Mark Okerstrom and CFO Alan Pickerill have resigned effective immediately after a disagreement with Expedia Chairman Barry Diller and the board over the company’s strategy as it attempted to reorganize its portfolio of brands last year. Expedia said that Diller and Vice Chairman Peter Kern will oversee the company’s day-to-day operations while the board focuses on the long-term leadership plan. Expedia’s chief strategy officer, Eric Hart, will serve as the acting chief financial officer. The management shakeup comes just over two years after Okerstrom, who has been with Expedia for 13 years, was named CEO in 2017 after then-CEO Dara Khosrowshahi left to become Uber’s chief executive. Expedia Group ‘s brands include Orbitz, Travelocity and Vrbo, among others. Expedia and other online travel companies are facing challenges as they deal with less visibility in Google search results while Google’s reach in the travel business grows as consumers use its search engine to plan travel.