Mark Okerstrom has stepped down as chief executive of Expedia Group after two years in the role.
Chief financial officer, Alan Pickerill, will also leave the company, effective immediately.
Chairman of the board, Barry Diller, and vice chairman Peter Kern, director of Expedia, will oversee the executive leadership team, managing day-to-day operations, while the board determines the long-term leadership of the company.
Eric Hart, the current chief strategy officer, will serve as acting chief financial officer
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.
Okerstrom and Pickerill are believed to have departed following a disagreement over the direction of the company with chairman Diller.
Diller said: “Ultimately, senior management and the board disagreed on strategy.
“Earlier this year, Expedia embarked on an ambitious reorganisation plan with the goal of bringing our brands and technology together in a more efficient way.
“This reorganisation, while sound in concept, resulted in a material loss of focus on our current operations, leading to disappointing third quarter results and a lacklustre near-term outlook.
“The board disagreed with that outlook, as well as the departing leadership’s vision for growth, strongly believing the company can accelerate growth in 2020.
“That divergence necessitated a change in management.
“Mark Okerstrom is a talented executive and his 13 years of service to Expedia has greatly benefited the enterprise.
“The board and I wish him the best for the future, as we do for Alan Pickerill.”
Expedia also announced a new share repurchase authorisation, for up to an additional 20 million shares of the company’s common stock.
This is in addition to the nine million shares available under an existing authorisation.
“I will be purchasing additional shares in the company as a tangible sign of my faith in and commitment to Expedia’s long-term future,” added Diller.