Expedia CEO Dara Khosrowshahi leaves for Uber

  • After twelve years on the job
  • Praise and good wishes for Khosrowshahi
  • Mark Okerstrom taking over
  • Khosrowshahi said 71 words

(exechange) — Bellevue, Washington, August 30, 2017 — Dara Khosrowshahi, chief executive of Expedia, leaves. As announced by Expedia, Inc. in a news release on Wednesday, August 30, 2017, Dara Khosrowshahi leaves the post as Chief Executive Officer at the travel company after twelve years on the job.

It is the end of an era.

Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, only 35 percent of the CEOs who departed over the past twelve months left after more than ten years. Overall, the average tenure of those who left was 8.7 years, according to data compiled by exechange.

The exact date of Khosrowshahi’s departure was not specified in the announcement.

Khosrowshahi’s duties are taken over by Mark Okerstrom, most recently Chief Financial Officer at Expedia, Inc.

Expedia, Inc. still listed Khosrowshahi as President and Chief Executive Officer on its leadership page.

Khosrowshahi will be CEO at Uber

“We are delighted to announce that Uber’s Board has voted unanimously to appoint Dara Khosrowshahi to be our new CEO,” Uber Technologies Inc. said. Uber Technologies Inc. announced the move on Tuesday, August 29, 2017. Uber is a ride-hailing firm.

“Approved”

Expedia announced “that its Board of Directors has approved the appointment of Mark Okerstrom, currently Chief Financial Officer and Executive Vice President of Operations, to succeed Dara Khosrowshahi as President and CEO of Expedia.”

Share price rise since February 2009

The change follows a rise in the share price of Expedia, Inc. since February 2009.

Chaired by Barry Diller

Expedia, Inc. is chaired by Barry Diller.

Barry Diller has been the Chairman of the Board and Senior Executive of Expedia, Inc. since the completion of the Company’s spin-off from IAC/InterActiveCorp (“IAC”) in August 2005.

On the job as CEO since 2005

Khosrowshahi has been the Chief Executive Officer and President at Expedia, Inc. (Expedia Group) since August 9, 2005.

Khosrowshahi has been a director and the Chief Executive Officer of Expedia since completion of the IAC/Expedia Spin-Off.

Khosrowshahi served as director of TripAdvisor, Inc., from the TripAdvisor Spin- Off until February 2013.

Khosrowshahi served as the Chief Executive Officer of IAC Travel, a division of IAC, from January 2005 to the IAC/Expedia Spin-Off date.

Prior to his tenure as Chief Executive Officer of IAC Travel, Khosrowshahi served as Executive Vice President and Chief Financial Officer of IAC from January 2002 to January 2005.

Khosrowshahi served as IAC’s Executive Vice President, Operations and Strategic Planning, from July 2000 to January 2002 and as President, USA Networks Interactive, a division of IAC, from 1999 to 2000.

Khosrowshahi joined IAC in 1998 as Vice President of Strategic Planning and was promoted to Senior Vice President in 1999.

Khosrowshahi worked at Allen & Company LLC from 1991 to 1998, where he served as Vice President from 1995 to 1998.

Khosrowshahi is currently a member of the Boards of Directors of Fanatics Inc. and The New York Times Company, and of the Supervisory Board of trivago, N.V., a majority-owned subsidiary of Expedia.

Okerstrom will join Expedia’s Board of Directors, and Khosrowshahi will continue to be a member of Expedia’s Board of Directors.

Read the full story in the exechange report 36.2017 ($).