Okerstrom to lead Expedia as Khosrowshahi bows out

Okerstrom to lead Expedia as Khosrowshahi bows out

Expedia has 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 chief executive of the company.

Khosrowshahi was appointed chief executive of Uber earlier this week.

Okerstrom will also join Expedia’s board of directors, while Khosrowshahi will continue to be a member of Expedia’s board.

Expedia chairman, Barry Diller, said: “We all wish Dara Khosrowshahi the best good fortune as Uber’s chief executive.

“I think we are both proud that he leaves behind such a talented organisation.

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“Our leadership team, over 12 strong, is as substantial a group of executives as I’ve ever worked with.

“Prior to Dara leaving, Mark Okerstrom was his principal partner in operating the company - and therefore this transition is as natural as water flowing down a snow-packed mountain.

“There was no other candidate that the board considered.

“Under Mark’s leadership, surrounded by his excellent and tenured executive team, I’m confident we’ll continue to grow and prosper.”

Okerstrom has served as Expedia’s executive vice president, operations, and chief financial officer since September 2011, previously serving as its secretary from October 2011 until April 2012.

In his role as chief financial officer, he held responsibility for all aspects of finance, including planning & analysis, accounting, tax, treasury, internal audit, procurement, real estate and investor relations, as well as corporate strategy for Expedia.

Khosrowshahi said: “Mark has been by my side through every major milestone in this company for much of the last 11 years and I’m passing these reins into the best hands.

“He is a tireless, strategic, and steadfast leader who has pushed me to be my best self while having Expedia’s best interest front and centre at every step.

“I am incredibly excited to watch Expedia continue to flourish with his leadership.”