Online travel company, Expedia, Inc. today announced that the company’s Board of Directors has selected Mark Okerstrom to succeed Dara Khosrowshahi as President and CEO of Expedia. Mr. Okerstrom will also join Expedia’s Board of Directors.
On the announcement, Dara Khosrowshahi said:
Mark has been by my side through every major milestone in this Company for much of the last 11 years and I’m passing these reins into the best hands. He is a tireless, strategic, and steadfast leader who has pushed me to be my best self while having Expedia, Inc.’s best interests front and center at every step. I am incredibly excited to watch Expedia continue to flourish with his leadership
Mr. Khosrowshahi will continue to be a member of Expedia’s Board of Directors. Before that, he was Chief Financial Officer and Executive Vice President of Operations.
Expedia, Inc. is the online travel company, with an extensive brand portfolio that includes leading online travel brands. It offers travelers an extensive selection of hotels, activities and travel services to meet every budget and activities of every kind at competitive rates.
The company has over hundreds of thousands of hotel partners worldwide and a comprehensive offering of flight inventory made available on the website, travelers can book everything they need for a holiday – rooms to meet every budget, activities of every kind and travel services to complement.
On the development, Expedia Chairman Barry Diller said:
Our Leadership Team, over 12 strong, is as substantial a group of executives as I’ve ever worked with. Prior to Dara leaving, Mark Okerstrom was his principal partner in operating the Company – and therefore this transition is as natural as water flowing down a snow-packed mountain.
Further adding to that, he said:
There was no other candidate that the Board considered. Under Mark’s leadership, surrounded by his excellent and tenured executive team, I’m confident we’ll continue to grow and prosper.
Mark D. Okerstrom has served as Expedia’s Executive Vice President, Operations, and Chief Financial Officer since September 2011, previously serving as its Secretary from October 2011 until April 2012. In his role as CFO, he held responsible for all aspects of finance, including planning & analysis, accounting, tax, treasury, internal audit, procurement, real estate and investor relations, as well as corporate strategy and M&A for Expedia, Inc.
He holds an MBA degree from Harvard Business School and a law degree from the University of British Columbia. His role was expanded in 2014, adding responsibility for the Company’s eCommerce Platform Group which includes centralized technology, payments, risk, and global customer operations.
Mr. Okerstrom served as Senior Director, Corporate Development, and Strategy, Vice President of Corporate Development and Strategy, and Senior Vice President of Corporate Development from 2006, when he joined, to 2011.
Prior to joining Expedia, Mr. Okerstrom was a consultant with Bain & Company in Boston and San Francisco and worked with UBS Investment Bank in London. Prior to that, he practiced as an attorney with the global law firm of Freshfields Bruckhaus Deringer in London.
The Former CEO of the company, Dara Khosrowsashi, is appointed as CEO of Uber after Travis Kalanick Resigns. You can read the article here.