Expedia Falls on Sudden CEO Change, Holiday Bookings Miss
- Ariane Gorin, who leads enterprise unit, named new CEO
- Company also gave first-quarter outlook that missed estimates
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Expedia Group Inc. shares plunged the most since the onset of the pandemic after the online travel company announced a leadership transition plan and provided a first-quarter outlook that fell short of Wall Street’s expectations.
Ariane Gorin, who has been an executive at Expedia since 2013 and most recently was the president of the enterprise division, will take the helm as chief executive officer May 13, the company said Thursday in a statement. She will succeed Peter Kern, 56, who has been in the role since 2020 and will be stepping aside at the end of his contract. He will continue to serve as vice chairman and member of the board.