Priceline Loses Another Executive as Head of Subsidiary Quits

  • CEO of Priceline.com unit is leaving for e-commerce company
  • Priceline Group CEO Darren Huston left the company in April

Priceline Group Inc. is replacing the top executive of one of its units just a month after the online travel giant’s chief executive officer resigned for having an inappropriate relationship with an employee.

Paul Hennessy, who has acted as CEO of Priceline.com since 2015, is leaving to take a job at an e-commerce company outside of the travel industry, the company said in an e-mailed statement. Brett Keller, Priceline.com’s chief operating officer, will serve as interim CEO of the unit. He has been with the company since 1999. A spokeswoman for Priceline Group declined to say where Hennessy was going.

Priceline Group’s former CEO Jeffery Boyd took the company’s reins at the end of April when Darren Huston resigned after an investigation found he had a personal relationship with an employee that violated the company’s code of conduct.

While looking for a permanent replacement, Boyd has his work cut out for him running the company. Shares tumbled after the company projected second-quarter earnings in May that fell short of analysts’ estimates, blaming costly new advertising campaigns and weakened demand for travel to France and China.

The company’s shares have gained 2.1 percent this year to $1,301.71 at the close Friday.

Before it's here, it's on the Bloomberg Terminal.
LEARN MORE