Priceline Group has named Glenn Fogel, currently head of strategy and executive vice president of corporate development at the company, to the role of chief executive.

He will step up to the role on January 1st.

Current interim chief executive Board Jeff Boyd, who served as the company’s chief executive from 2002-2013, chairman of the board since 2013 and interim chief since April of 2016, will assume the role of executive chairman of the board.

“Glenn knows our global business inside and out, and he has been a key player in almost all of the major strategic initiatives for The Priceline Group over the last 16 years.

“He was a primary driver in key acquisitions including Active Hotels, Booking.com and Agoda.com, which have created strong growth opportunities for the group and favourable returns for our shareholders,” said Boyd.

“I have worked alongside him for 16 years, and I can attest to Glenn’s intimate knowledge of our people, our business models, our company culture and our changing business landscape, all critical attributes for the next leader of the group.

“I am confident Glenn is the right choice to lead the business through its next chapters, and I look forward to working with him.”

Fogel is a 16-year veteran of The Priceline Group, serving as head of strategy and planning, a position he has held since 2010, and executive vice president of corporate development, a position he has held since 2009.

During his tenure at the group, Fogel has been responsible for global corporate strategy, worldwide mergers and acquisitions, business development initiatives and strategic alliances, helping lead the company during a long period of sustained global growth.

Prior to joining The Priceline Group, Fogel worked in investment banking and asset management at various firms, including Morgan Stanley.