Expedia said on Thursday that Peter Kern had resigned as CEO after four years in the role and that Ariane Gorin would take over the reins, as it bets on a unified platform to attract more customers to its clutch of online brands.
Shares of the company fell more than 15% in extended trading.
Kern will continue to serve as the company’s vice chairman and member of the board, working closely with Gorin to ensure a smooth transition, the company said.
Gorin, who has been with Expedia for more than a decade, was most recently president of Expedia for Business, where she led global supply partner group, advertising business and B2B partner network.
“We very much wanted an internal candidate to succeed to the CEO position, and following a comprehensive search, the Board determined Ariane was the best candidate given her exemplary leadership,” said Barry Diller, Expedia’s chairman and senior executive.
Under the terms, Gorin will receive an…
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