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Dec. 4, 2019 / 12:57 PM

Expedia CEO, CFO out after disagreements with board

The popular Internet travel broker said the executives did not agree with the views of Expedia board members. File Photo by John Angelillo/UPI

The popular Internet travel broker said the executives did not agree with the views of Expedia board members. File Photo by John Angelillo/UPI | License Photo

Dec. 4 (UPI) -- Internet travel exchange Expedia announced a corporate shakeup Wednesday that saw both its CEO and chief financial officer leave the company.

Expedia said CEO Mark Okerstrom and CFO Alan Pickerill resigned after clashing philosophically with the company's board.

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"This reorganization, while sound in concept, resulted in a material loss of focus on our current operations, leading to disappointing third quarter results and a lackluster near-term outlook," board Chair Barry Diller said in a statement. "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.

"That divergence necessitated a change in management."

Diller said he and Vice Chairman Peter Kern will take over day-to-day management in the interim.

Expedia is the home of some of the best-known travel websites on the Internet, including Orbitz, Hotwire, Trivago, Travelocity and Hotels.com.

Okerstrom was named CEO in 2017 when Dara Khosrowshahi left the position to lead Uber.

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