Exhibit 99.1
EXPEDIA GROUP ANNOUNCES EXECUTIVE LEADERSHIP CHANGES
CEO Mark Okerstrom and CFO Alan Pickerill to Resign
Chairman Barry Diller and Vice Chairman Peter Kern to Oversee Executive Leadership Team While Board Determines the Long-term Leadership of the Company
Expedia Group Announces New 20 million Share Repurchase Authorization
SEATTLE, Wash., December 4, 2019 — Expedia Group, Inc. (NASDAQ: EXPE) today announced the resignation of Mark Okerstrom as CEO and a member of the Board of Directors and CFO Alan Pickerill, effective immediately.
Barry Diller, Chairman of the Board, and Vice Chairman Peter Kern, Director of Expedia, will oversee the company’s executive leadership team, managingday-to-day operations, while the Board determines the long-term leadership of the Company.
Eric Hart, the Company’s Chief Strategy Officer, will serve as acting CFO. Ariane Gorin, who most recently served as President of Expedia Partner Solutions, is being promoted and will have an expanded role as President, Expedia Business Services.
The Company also announced today a new share repurchase authorization for up to an additional 20 million shares of the Company’s common stock, which is in addition to the 9 million shares available under the Company’s existing authorization. Accordingly, the Company now has approximately 29 million shares available under its repurchase program.
Chairman Barry Diller said “Ultimately, senior management and the Board disagreed on strategy. Earlier this year, Expedia embarked on an ambitious reorganization plan with the goal of bringing our brands and technology together in a more efficient way. This reorganization, while sound in concept, resulted in a material loss of focus on our current operations, leading to disappointing third quarter results and a lackluster near-term outlook. The Board disagreed with that outlook, as well as the departing
