The Board of Directors of priceline.com today announced that Jay S. Walker, who had been the Board`s vice chairman, is stepping down from the Board.
Mr. Walker recently assumed the role of CEO at Walker Digital, LLC, a Stamford-based intellectual property developer that invented priceline.com`s business model. Mr. Walker said he was leaving the priceline.com Board of Directors, effective December 31, in order to focus on business challenges facing Walker Digital, including the licensing of its intellectual property portfolio and commercialization of several related services.
“As priceline.com`s founder, Jay made significant contributions to our business,” said Chairman Richard S. Braddock. “He gave us the intellectual foundation on which we have built and expect to continue to grow priceline.com. We thank Jay for those contributions and we understand his decision to concentrate his time at Walker Digital.” “I am proud of what has been achieved so far at priceline.com,” said Mr. Walker. “I have every confidence that priceline.com will emerge from the current environment as one of the Internet`s pre- eminent brands.” About priceline.com Priceline.com is the Name Your Own Price(sm) Internet pricing system that provides services across four broad product categories: a travel service that offers leisure airline tickets, hotel rooms and rental cars; a personal finance service that offers home mortgages, refinancing and home equity loans through an independent licensee; an automotive service that offers new cars; and a telecommunications service that offers long distance calling services.