Expedia Group Announces CEO Transition Plan
Expedia Group announced the appointment of Ariane Gorin as CEO, succeeding Peter Kern. Gorin has been with the company since 2013 and most recently served as President of Expedia for Business, delivering outstanding financial results with a 33% B2B revenue growth in 2023. The Chairman and Senior Executive, Barry Diller, expressed confidence in Gorin's leadership, highlighting her exemplary track record. Kern will continue as Vice Chairman and member of the Board of Directors, praising Gorin's leadership and the company's transformation under his guidance.
The appointment of Ariane Gorin as CEO of Expedia Group marks a significant leadership transition for the company. Leadership changes at the CEO level can have a profound impact on company strategy, investor confidence and organizational culture. Gorin's internal promotion suggests continuity, which could be favorable for shareholders who prefer stability over the uncertainties brought by external hires. Her track record of driving a 33% B2B revenue growth in 2023 is a strong indicator of her capability to deliver financial results.
From a market research perspective, the travel industry is rebounding from the pandemic and Expedia's ability to leverage technology for B2B partnerships will be crucial. Gorin's experience in leading Expedia for Business positions her well to capitalize on this recovery. Investors should monitor how her strategies align with consumer travel trends and technology advancements to maintain competitive advantage.
With Expedia Group's announcement of a new CEO, investors will closely scrutinize the company's financial performance under Ariane Gorin's leadership. The 33% B2B revenue growth she achieved in 2023 is a strong point in her favor and stakeholders will expect similar, if not enhanced, performance across the company's entire portfolio. The continuity of leadership, with Gorin being a long-term internal figure and the ongoing involvement of Peter Kern as Vice Chairman, may provide a stable transition, potentially mitigating market volatility.
Assessing the company's valuation and stock performance in the coming quarters will be essential. Investors will look for evidence of strategic initiatives that drive growth and profitability, as well as effective management of operational costs in a post-pandemic travel landscape that is still facing economic uncertainties.
The strategic direction of Expedia Group under Ariane Gorin's leadership will be a focal point for stakeholders. Her experience in leading the B2B segment to substantial growth is indicative of her strategic acumen. The challenge will be to translate this success into Expedia's broader business model, including consumer-facing operations.
Investors will be interested in how Gorin plans to navigate the competitive travel industry landscape, particularly in how she will utilize technological innovation to enhance user experience and operational efficiency. The ability to maintain strong relationships with global supply partners and further develop the advertising business will also be key factors in sustaining long-term growth and market share.
02/08/2024 - 04:01 PM
Ariane Gorin, President of Expedia for Business, to Succeed Peter Kern as CEO
SEATTLE --(BUSINESS WIRE)--
Expedia Group today announced the appointment of Ariane Gorin as Expedia Group’s CEO, effective as of May 13, 2024. Ms. Gorin will succeed Peter Kern, who has served as the Company’s CEO since 2020. After completing his contract as CEO, Mr. Kern will continue to serve as the Company’s Vice Chairman and member of the Board of Directors, working closely with Ms. Gorin to ensure a smooth transition. Ms. Gorin has also been elected to serve on the Company’s Board of Directors.
Ms. Gorin has held various executive roles at Expedia Group since 2013, most recently as President of Expedia for Business, where she delivered outstanding financial results including B2B revenue growth of 33% in 2023 vs. 2022. As President of Expedia for Business, Ms. Gorin led the Company’s global supply partner group, advertising business, and B2B partner network that powers many leading global brands with travel tech.
“Ariane Gorin is a superb executive that all of us at Expedia Group and our Board have worked with for ten years. 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 Group’s Chairman and Senior Executive.
“I am truly honored to have the opportunity to lead Expedia Group as we build on the foundations established by Peter, our leadership team, and our global workforce. Leading our multibillion-dollar B2B business has been an incredible experience and I look forward to even greater growth ahead for the entire Company. It’s an exciting time in the Company’s history, and I’m energized by the opportunities ahead for our employees, travelers, and partners,” said Ms. Gorin.
“I am proud of and grateful to the team we have built at Expedia Group and the tenacity and resilience they demonstrated as we worked through an incredibly ambitious and challenging transformation. We have quite literally reset the Company for the future, and we are in position to lead our industry for decades to come,” said Mr. Kern. “I have had the pleasure of working closely with Ariane for these last four years. She is a proven leader, answering any challenge thrown at her, including most recently as head of our tremendously successful B2B business. As Vice Chairman, I look forward to working closely with Ariane and our leadership team as they continue the momentum we have built and realize on all the opportunity that our transformation has created.”
Mr. Diller continued, “On behalf of the Board, I would like to thank Mr. Kern for his excellent service as CEO since 2020. He not only guided the Company through the supremely challenging pandemic years, but also drove Expedia Group’s organizational and technological transformation.”
About Expedia Group
Expedia Group, Inc. (NASDAQ: EXPE) brands power travel for everyone, everywhere through our global platform. Driven by the core belief that travel is a force for good, we help people experience the world in new ways and build lasting connections. We provide industry-leading technology solutions to fuel partner growth and success, while facilitating memorable experiences for travelers. Our organization is made up of three pillars: Expedia Brands, housing all our consumer brands; Expedia Product & Technology, focused on the group’s product and technical strategy and offerings; and Expedia for Business, consisting of business-to-business solutions and relationships throughout the travel ecosystem.
Expedia Group’s three flagship consumer brands includes: Expedia®, Hotels.com®, and Vrbo®. One Key™ is our comprehensive loyalty program that unifies Expedia, Hotels.com and Vrbo into one simple, flexible travel rewards experience. To enroll in One Key, download Expedia, Hotels.com and Vrbo mobile apps for free on iOS and Android devices. One Key is currently available in the U.S. and will become available globally soon.
For more information, visit www.expediagroup.com . Follow us on Twitter @expediagroup and check out our LinkedIn www.linkedin.com/company/expedia .
Forward-Looking Statements
This press release contains forward-looking statements, including those regarding Expedia Group’s future outlook and financial performance. These statements are subject to risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those expressed or implied by such statements include without limitation the risks and uncertainties described in the “Risk Factors” section of our most recent Annual Report on Form 10-K, as well as our subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. All forward-looking statements are based on management’s current estimates, projections and assumptions, and we assume no obligation to update them.
© 2024 Expedia, Inc., an Expedia Group company. All rights reserved. Trademarks and logos are the property of their respective owners. CST: 2029030-50
View source version on businesswire.com: https://www.businesswire.com/news/home/20240208695141/en/
Communications
press@expedia.com
Investor Relations
ir@expedia.com
Source: Expedia Group, Inc.
Who is the new CEO of Expedia Group?
Ariane Gorin is the new CEO of Expedia Group, succeeding Peter Kern.
What was Ariane Gorin's role before becoming CEO?
Ariane Gorin was the President of Expedia for Business before becoming CEO.
What was the B2B revenue growth in 2023 vs. 2022?
The B2B revenue growth in 2023 was 33% compared to 2022.
Who will continue as Vice Chairman and member of the Board of Directors?
Peter Kern will continue as Vice Chairman and member of the Board of Directors.
What is Barry Diller's position at Expedia Group?
Barry Diller is the Chairman and Senior Executive at Expedia Group.
