Image Source: AsiaOne
SAN FRANCISCO - Expedia Group's chief executive officer Mark Okerstrom and finance head Alan Pickerill have resigned with immediate effect following a disagreement with the online travel company's board over its business outlook, chairman Barry Diller said on Wednesday (Dec 4). Billionaire Diller, who also chairs Expedia's former parent IAC/InterActiveCorp, said he will oversee the executive leadership team along with vice-chairman Peter Kern until the board finds a replacement. "Ultimately, senior management and the board disagreed on strategy," Diller said in a statement, adding that the company's reorganisation plan launched earlier this year had led to disappointing third-quarter results and a "lacklustre" near-term outlook. "The board disagreed with that outlook, as well as the departing leadership's vision for growth, strongly believing the company can accelerate growth in 2020," Mr Diller said. Diller, 77, also said he would purchase additional shares in Expedia in a show of "faith in and commitment to the company's long-term future".
Source: AsiaOne