Expedia picks CFO Okerstrom to replace Khosrowshahi as CEO
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August 30, 2017(Reuters) – Expedia Inc named Chief Financial Officer Mark Okerstrom as its new chief executive, replacing Dara Khosrowshahi, who left to take over the top job at Uber Technologies Inc [UBER.UL].
Khosrowshahi, who led the travel-booking site for 12 years, will continue to be a board member, the company said in a statement on Wednesday.
Okerstrom, who has been Expedia’s CFO and executive vice president of operations for the last six years, was also named to the company’s board, the travel-booking site said.
“There was no other candidate that the board considered,” Expedia Chairman Barry Diller said.
Okerstrom was Khosrowshahi’s “principal partner” in running Expedia, the company said. During Khosrowshahi’s tenure, Expedia became the largest online travel agency by bookings and its stock price grew more than six-fold.
Expedia shares were marginally up in extended trading on Wednesday.
Reporting by Arunima Banerjee in Bengaluru; Editing by Anil D’Silva