- After about four years in the position
- Praise and thanks for Kern
- Ariane Gorin taking over
- Kern will remain as Vice Chairman at Expedia
- Kern said 126 words
(exechange) — Seattle, Washington State, February 8, 2024 — Peter Kern, chief executive of Expedia, leaves his position. As announced by Expedia Group Inc. in a news release and in a regulatory filing published on Thursday, February 8, 2024, Peter Kern leaves his post as chief executive officer at the online travel agency, after about four years in the role, effective May 13, 2024.
Peter Kern’s duties as CEO will be taken over by Ariane Gorin, currently President of Expedia for Business.
“Following a comprehensive search”
Expedia did not give an explicit reason for Peter Kern’s departure from the CEO post. Barry Diller, Expedia Group’s Chairman and Senior Executive, stated: “We very much wanted an internal candidate to succeed to the CEO position, and following a comprehensive search, the Board determined Ariane was the best candidate given her exemplary leadership.”
Kern will remain as Vice Chairman at Expedia
Expedia stated: “After completing his contract as CEO, Mr. Kern will continue to serve as the Company’s Vice Chairman and member of the Board of Directors, working closely with Ms. Gorin to ensure a smooth transition.”
Expedia said: “Ms. Gorin will succeed Peter Kern, who has served as the Company’s CEO since 2020.”
Share price decline since February 2022
The announcement follows a decline in Expedia Group Inc.’s share price of 18% since February 2022.
In the position of CEO since 2020
Peter Kern became CEO of the Company in 2020.
Kern has been a director of Expedia Group since 2005, has served as Vice Chairman of Expedia Group since 2018, and has served as Chief Executive Officer of Expedia Group since 2020.
He has also been a member of the Supervisory Board of trivago N.V., a majority-owned subsidiary of Expedia Group, since 2016, including as Chairman from 2019 to 2022.
Kern served also served on the board of directors of Tribune Media Company from 2016 through the completion of Tribune Media’s merger with Nextstar Media Group, Inc. in 2019, and served as Tribune Media’s Chief Executive Officer from 2017 to 2019.
Previously, Kern also served as a Managing Partner of InterMedia Partners VII, LP, a private equity firm.
Prior to joining InterMedia, Kern was Senior Managing Director and Principal of Alpine Capital LLC.
Prior to Alpine Capital, Kern founded Gemini Associates in 1996 and served as President from its inception through its merger with Alpine Capital in 2001.
Prior to founding Gemini Associates, Kern was at the Home Shopping Network and Whittle Communications.
Kern has also served as Chairman of the board of directors of Hemisphere Media Group, Inc., a publicly-traded Spanish-language media company, as well the boards of several private companies.
Kern holds a B.S. degree from the Wharton School at the University of Pennsylvania.
126 words by Peter Kern
In the release announcing his departure as CEO of Expedia Group Inc., Peter Kern received praise and thanks.
In announcing his departure, Peter Kern said 126 words.
“Challenging transformation”
Peter Kern stated: “I am proud of and grateful to the team we have built at Expedia Group and the tenacity and resilience they demonstrated as we worked through an incredibly ambitious and challenging transformation. We have quite literally reset the Company for the future, and we are in position to lead our industry for decades to come. I have had the pleasure of working closely with Ariane for these last four years. She is a proven leader, answering any challenge thrown at her, including most recently as head of our tremendously successful B2B business. As Vice Chairman, I look forward to working closely with Ariane and our leadership team as they continue the momentum we have built and realize on all the opportunity that our transformation has created.”
Push-out Score for Peter Kern’s move determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Peter Kern’s move on a scale of 0 to 10.
Read the full story in the exechange report 7.2024 ($).