Expedia Inc named Chief Financial Officer Mark Okerstrom as its new chief executive, replacing Dara Khosrowshahi, who left to take over the top job at Uber Technologies Inc [UBER. UL] .
(Reuters) – Expedia Inc named Chief Financial Officer Mark Okerstrom as its new chief executive, replacing Dara Khosrowshahi, who left to take over the top job at Uber Technologies Inc [UBER. UL] .
Khosrowshahi, who led the travel-booking site for 12 years, will continue to be a board member, the company said in a statement on Wednesday.
Okerstrom, who has been Expedia’s CFO and executive vice president of operations for the last six years, was also named to the company’s board, the travel-booking site said.
« There was no other candidate that the board considered, » Expedia Chairman Barry Diller said.
Okerstrom was Khosrowshahi’s « principal partner » in running Expedia, the company said. During Khosrowshahi’s tenure, Expedia became the largest online travel agency by bookings and its stock price grew more than six-fold.
Expedia shares were marginally up in extended trading on Wednesday.
