Expedia Names Okerstrom CEO as Khosrowshahi Quits for Uber
- Executive has been chief financial officer since 2011
- Quick appointment of internal candidate signals continuity
Expedia's New CEO on the Departure of Khosrowshahi
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Expedia Inc. chose finance chief Mark Okerstrom to be its new chief executive officer, quickly filling the job with a well-known internal candidate after Dara Khosrowshahi unexpectedly quit to join Uber Technologies Inc.
Okerstrom’s appointment sends a message of continuity to shareholders, who initially sent Expedia’s stock lower on reports of Khosrowshahi’s departure. Okerstrom, who has held the CFO post since 2011 and been at the company since 2006, often speaks at events on Expedia’s behalf, briefs analysts on quarterly calls and has generally been seen as Khosrowshahi’s right-hand man. Khosrowshahi will remain on Expedia’s board, the company said Wednesday in a statement.