Home Personal Finance Expedia replaces CEO, CFO after fight over reorganization

Expedia replaces CEO, CFO after fight over reorganization

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Expedia says its CEO and the chief financial officer have quit, and Chairman Barry Diller will help run the travel company while it searches for permanent replacements

Expedia says its CEO and chief financial officer have quit, and Chairman Barry Diller will help run the travel company while it searches for permanent replacements.

The company said Wednesday that the resignations of CEO Mark Okerstrom and CFO Alan Pickerill took effect immediately.

Diller said a reorganization plan pushed by the departing executives was sound in concept but led to a loss of focus, disappointing earnings and a “lackluster” short-term outlook. He said the board believes the company can grow faster in 2020.

Shares of Expedia Group Inc. rose 7% in morning trading. The Bellevue, Washington-based company runs travel sites including Expedia.com, Hotels.com and Travelocity.

ABC Finance News

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