Expedia CEO, CFO resign after clash over strategy with board

Technology News
December 4, 2019 / 9:51 AM / Updated 13 minutes ago

(Reuters) - Expedia Group Inc’s (EXPE.O) chief executive officer and finance head have resigned following a disagreement with the online travel company’s board over its business outlook, Chairman Barry Diller said on Wednesday.

Billionaire Diller, who is also chairman of Expedia’s former parent IAC/InterActiveCorp IACI.O, 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,” Chairman Barry Diller said in a statement, adding that the company’s reorganization plan launched earlier this year had led to disappointing third-quarter results and a “lackluster” 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,” Diller said.

https://www.reuters.com/article/us-expedia-group-executives/expedia-ceo-cfo-resign-after-clash-over-strategy-with-board-idUSKBN1Y81ZW?il=0